TIME IS RUNNING OUT !

Lockdown Business Grant 

This grant will close at 5pm on the 20th November!

 

Neath Inspired says

“If you haven’t already accessed this grant, hurry, apply today it only takes 5 minutes”

This fund is to provide financial assistance to businesses that are facing operational and financial challenges caused by the national lockdown announced for Wales as a result of COVID-19.

The purpose of the fund is to support businesses with cash flow support to help them survive the economic consequences of the restrictions put in place.

The Lockdown Non-Domestic Rate (Business Rates) Grant

This grant is available to businesses liable for business rates.

A grant of £5,000 is being made available for retail, leisure and hospitality businesses that have been forced to close and occupy properties with a rateable value of between £12,001 and £51,000.

A grant of £1,000 is being made available to all businesses eligible for small business rates relief (SBRR) in Wales with a rateable value of up to £12,000

Businesses eligible for small business rates relief that have been subject to local restrictions for 3 weeks or more and have been materially impacted [have experienced a 50% reduction in turnover] up to the 23rd October will be eligible for a further grant of £1,000

Businesses eligible for small business rates relief that have been forced to close as a result of the national firebreak lockdown will also be eligible for a further top up grant of £2,000 from their local authority.

You will need to be a Business Rates payer on 1 September 2020 and will need to complete a simple registration form to receive this grant. It only takes 5 minutes. For further information on this grant please read the Lockdown Non-Domestic Rate Grant Guidance Document. https://www.npt.gov.uk/media/14661/enhanced-lockdown-discretionary-grant-application-form-eng-911.docx

This information was last updated at 16 November 2020, 12:43

 

 

Lockdown Business Grants Available from the Welsh Government

Calling Neath Businesses

Make sure you understand which “Lockdown Grants” are available to you from the Welsh Government.

Don’t miss out!

Lockdown Business Fund

This is a fund to provide financial assistance to businesses that are facing operational and financial challenges caused by the national lockdown announced for Wales as a result of COVID-19.

The purpose of the fund is to support businesses with cash flow support to help them survive the economic consequences of the restrictions put in place.

To receive the grants outlined below you will need to register and or make an application for the discretionary elements. Registration and applications will be open on the *28th October 2020 via links to Neath Port Talbot web site. (* The NPTC links will be made available over two working days so please do not worry if the site is not immediately visible on the 28th).

Applications will close at 5pm on the 20th November 2020 or when the fund is fully committed. The fund will be administered by your Local Authority.

The fund consists of two separate grants:


Lockdown Non Domestic Rate Grant

Grant 1
A grant of £5,000 is being made available for retail, leisure and hospitality businesses that have been forced to close (as defined by the regulations) and occupy properties with a rateable value of between £12,001 and £51,000.

In line with the regulations, the primary operation of the business at the qualifying hereditament must be closed during the firebreak period to be eligible for this element of support. However, if a food delivery or takeaway service is in operation (and is not the normal primary income source for the business) and aligns fully to the reasonable measures required you may apply for the £5k grant.

Grant 2 
A grant of £1,000 is being made available to all businesses eligible for small business rates relief (SBRR) in Wales with a rateable value of up to £12,000 (for further details and exemptions see guidance document).

  •  Businesses eligible for small business rates relief that have been subject to local restrictions for 3 weeks or more and have been materially impacted (for example – 50% reduction in turnover) up to the 23rd October will be eligible for a further grant of £1,000
  • A discretionary enhanced £2,000 top-up grant [see below] will be made available on an application basis for those businesses with a rateable value of £12,000 or less who are forced to close by the firebreak lockdown (as defined by the regulations).

You are not eligible for this grant if:
•    You are eligible for, or have received, the Lockdown Discretionary Grant from your Local Authority

You will need to be on the NDR rating list for your local authority on 1 September 2020 and will need to complete a simple registration form to receive this grant.

For further information on this grant read:

Enhanced Lockdown Non Domestic Rate Grant – Guidance (ENG)_0.docx

[.DOCX, 36.01 KB]

 

Lockdown Discretionary Grant

Grant amount 1 – a discretionary grant of £1,500 is available to assist businesses that have:
•    Been forced to close as a result of the national firebreak lockdown
•    OR are able to demonstrate that the national firebreak lockdown will result in at least a 80% reduction in their turnover for that period

Grant amount 2 – a discretionary grant of £2,000 is available to assist businesses that have:
•    Been forced to close as a result of the national firebreak lockdown
•    OR are able to demonstrate that the national firebreak lockdown will result in at least a 80% reduction in their turnover for that period

  •  ANDhave been subject to local restrictions for 3 weeks or more up to the 23rd October and experienced at least a 50% reduction in their turnover for that period.

You cannot apply for Grant 1 and Grant 2.
You are not eligible for this grant if:
•    You are eligible for, or have received, the Lockdown Non-Domestic Rate Grant from your Local Authority

  • If you have 50 or more employees
  • If the business generated less than 50% of your income, the business must be your main source of income.

For further information on this grant please read the

Enhanced Lockdown Discretionary Grant – Guidance (ENG)_0.docx

[.DOCX, 32.71 KB]

£140 million to Support Welsh Businesses

The Welsh Government is making an additional £140 million available to businesses to help them deal with the economic challenges of coronavirus (COVID-19) and the UK’s impending exit from the EU, Economy Minister Ken Skates has announced.

The funding from the third phase of the Welsh Government’s Economic Resilience Fund (ERF) will see wider support being provided to secure jobs and help businesses develop, as well as additional help for firms affected by local lockdowns.

To date, the ERF has delivered almost £300 million of support to more than 13,000 companies in Wales. This has helped to protect in excess of 100,000 jobs which might otherwise have been lost.

This new phase of the ERF will see £80 million being made available to support businesses with projects that can help them transition to the economy of tomorrow. It will require co-investment from companies and a clear plan about how they will adjust to the post-covid economy.

Of this, £20 million will be ring fenced to support tourism and hospitality businesses who are facing particular challenges as they enter the winter months.

Meanwhile an additional £60 million will be allocated to support businesses impacted by local lockdown restrictions.

The rest of the funding will be used flexibly to provide additional support, for example to increase lending to Welsh businesses through Development Bank of Wales initiatives and to help companies deal with the impacts of the UK leaving the European Union.

The ERF has been designed to complement and build on the support offered by the UK Government.

Economy Minister Ken Skates said:

Our Economic Resilience Fund has been absolutely crucial in supporting businesses throughout Wales in dealing with the economic challenges of the coronavirus and helping protect the livelihoods of more than 100,000 people.

The next phase of the fund, worth £140 million, builds on that success, helping us to secure jobs and enabling businesses to continue to develop and grow in these challenging times. There is also a specific part of the fund earmarked to support businesses affected by local lockdowns.

This additional help has been designed to complement and build on the support announced by the Chancellor last week, again demonstrating the Welsh Government’s proactive approach to go above and beyond in providing extra financial assistance that we know our businesses and workers need.

The £80 million worth of business development grants will be open to micro businesses, SMEs and large businesses.

  • Micro businesses (employing between 1 and 9 people) will be able to apply for up to £10,000 on the condition they match this with their own investment of at least 10%.
  • SMEs (employing between 10 and 249 people) will be able to apply for up to £150,000 on the condition they match this with their own investment of at least 10% for small business (1 to 49 staff) and 20% for medium sized (50 to 249) business.
  • Large businesses (employing 250+ people) will be able to apply for up to £200,000 on the condition they match this with their own investment of at least 50%.

Companies that received grant funding through phases one and two of the ERF, or Non-Domestic Rate linked support, could also be eligible for phase three of the ERF.

The Minister added:

We are going through a time like no other. Coronavirus and the increasing risk of the UK reaching the end of the European Union transition period without a deal have placed incredible challenges on our businesses.

As a Welsh Government, we continue to do all we can to back our businesses, our workers and our communities.

Finance Minister Rebecca Evans said:

The package of support we have provided for Welsh businesses has been, and will continue to be, absolutely critical as we move into the next phase of addressing this crisis.

Today’s announcement provides reassurances to businesses at a time they need it most.

The Eligibility Checker for companies to find out if they can access funding from the third phase of the ERF will be live during week commencing 5 October.

 

 

 

Kick Start Packs – A real Success

Neath BID Businesses – we’ve been busy  ensuring we supported you to get back to work!

In anticipation of  businesses reopening, we put together 125 “Kick Start” packs that included essential re-start items items.

Thanks to all those who made it happen: Steve and Nathan at the Edge Menswear shop in Wind Street, Donna and Matthew Anderson at Ministry Graphics and Hannah at Magnolia Health and Wellbeing who brought it all together.

The packs helped 125 businesses to re-start as seamlessly as possible and to adapt to our new normal.

 

Furlough: Take a look at the detailed guide for employers below

 

Claim for your employees’ wages through the Coronavirus Job Retention Scheme (CJRS)

General information about the scheme

  • To be eligible for CJRS an employer must agree with the employee that they are a ‘furloughed worker’.
  • Employees must be notified that they have been furloughed.
  • Employees must be furloughed for a minimum of three weeks.
  • The employee cannot do any work for the employer that has furloughed them.
  • You can claim 80% of wages up to a maximum of £2,500 per month per furloughed employee.
  • A separate claim is needed for each PAYE scheme.
  • You can only claim for furloughed employees that were on your PAYE payroll on or before 19 March 2020.
  • An RTI submission notifying payment in respect of that employee to HMRC must have been
  • made on or before 19 March 2020.
  • You must have a UK bank account.

A detailed step by step guide for employers:

Control & Click Below

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/881800/Coronavirus_Job_Retention_Scheme_step_by_step_guide_for_employers.pdf

HMRC have requested your support to keep their lines open for those who need help the most.

Do not call them unless you have an issue that cannot be resolved using their guidance or webchat facility.

If you are an employee speak to your employer if you have any questions. HMRC are not able

to provide information on individual claims.

 

Government Furlough Scheme Goes Live Today 10.00am Monday 20th April

Government Furlough Scheme Goes Live Today

The Government’s furlough scheme opens for applications today.

Employers can go online TODAY to claim cash grants worth up to 80% of a furloughed employees wages capped at £2,500 a month per worker. This is part of a package of support to protect jobs and businesses.

If you use a third party i.e. accountant or book-keeper to control your staff wages you need to notify them to claim on your behalf. If you operate a payroll scheme independently you need to access the site noted below.

You can apply for direct cash grants through HMRC’s new online portal – with the money expected to land in your bank account within six working days.

5000 HMRC staff will operate the scheme – which is expected to help thousands of firms across the UK.

HMRC tells us this is an easy to use portal, it has a step by step application process

Go to the HMRC website, follow the instructions to create a password, you will have to enter your email address so that HMRC can confirm the contact.

 

NEWS FLASH FOR NEATH BUSINESSES

NEWS FLASH FOR NEATH BUSINESSES

Council expects to make majority of coronavirus business payments by end of next week

02 April 2020 Press Release from Neath Port Talbot Council

Neath Port Talbot Council announced today that it expected to make the majority of payments to businesses who have registered for the £10,000 and £25,000 grants announced by Government by the end of next week. In the meantime, the Council is asking those businesses who have registered for the payments not to ring to chase payments as this is diverting staff from processing the payments.

For those businesses that have not yet received a letter from Neath Port Talbot Council for either the £10K Grant [available for businesses with a Rateable Value of up to £12K – this is not what you pay – it is listed as “Rateable Value” on your most recent Business Rate Demand], or the £25K Grant [available for businesses with a Rateable Value of between £12,001K and £51K]:

CHECK YOUR MAIL – letters have gone out or are imminent. The letters explain the claim process.

Tuesday 31.03.20 Coronavirus Up-date for Neath Businesses

Coronavirus Up-date for Neath Businesses

The Welsh Government has announced a further package of support for Welsh Businesses. Yesterday’s announcement states that businesses will also be able to benefit from a £400m emergency pot providing:

  • Grants of £10,000 for micro-businesses employing up to nine people.
  • Grants of up to £100,000 for small and medium sized firms with between 10 and 249 employees.
  • Support for larger Welsh companies, which are of critical social or economic importance to Wales.

The Economic Resilience Fund will support businesses forced to temporarily cease trading – to go into “hibernation” – or which need cash-flow support to adapt to a remote way of working.

Qualifying businesses will be able to apply by mid-April.

Details of the application process and eligibility are being finalised and will be published shortly, so please keep an eye on the Neath Inspired Facebook page or our website:

https://www.facebook.com/NeathInspired/

http://www.neathinspired.co.uk/

This funding will be provided by the Welsh Government and is exclusive to Wales it is in addition to the previously announced £1.4 billion supporting businesses dealing with the coronavirus impact, which includes rate relief schemes and business grants [See our previous Facebook posts].

 

10.00am 24.03.20 CORONAVIRUS JOB RETENTION SCHEME UPDATE

CORONAVIRUS JOB RETENTION SCHEME
As you have previously been advised the WG will cover up to 80% of employees’ wages for employees that would otherwise be laid off, up to a maximum of £2,500 a month per employee as a grant. This wage support will last for at least 3 months. This can be backdated and apply to employees who were on the payroll as of 28th February, even if they have since been let go
 
NEW INFORMATION:
Employers need to designate affected employees as “furloughed workers”. You must then notify your employees of this change [this change remains subject to existing employment law].
Also, employers need to make sure that the details of the employees that have been “furloughed” is submitted to HMRC, either direct to HMRC by you, on their new online portal [when it is launched] or via your accountant or third party book-keeper who deals with payroll on your behalf. It will be important to notify HMRC as soon as their portal is up and running to avoid delays which are expected anyway.
 
SELF- EMPLOYED
Regarding self-employed people, which many of you are, we await new information from the Government to remedy the unfairness that as an employer your staff will be guaranteed 80% of their earnings but you as employers are not. We suggest that you lobby the Welsh Government to bring this forward ASAP to get rid of the uncertainty that this lack of information brings.
 
RENT
In order to mitigate the financial strains on your business and if you pay rent, you are advised to contact your landlords and ask for a “Rent Holiday” or at least that rent is deferred to a later date when you reopen and cash flow is restored.

12.30pm Monday 23.03.20 Coronavirus: The Latest from the Welsh Government

Business rate relief

Retail, leisure and hospitality businesses

You will get one-year business rates relief in 2020 to 2021. This means that you will not have to pay any business rates during this time.

Q.How do I apply for this rate relief?

A.You do not need to do anything. The rate relief will be administered through the business rates system. Your local authority will contact you.

 

Grants

Retail, leisure and hospitality businesses with a rateable value of £12,001 and £51,000

You will get a grant of £25,000.

Businesses with a rateable value of £12,000 or less

All businesses that are eligible for Small Business Rates Relief will get a grant of £10,000.

Q. How do I apply for a grant?

A. You do not need to do anything to apply for the grant. This will be administered through the business rates system. You do not need to contact your local authority. They will contact you.

New small business grant

Q. What is this grant?

A. New Businesses will be able to apply for a new business grant.  Details about how to apply will be available shortly.

Business Interruption Loan Scheme

The UK government has set up a new temporary Coronavirus Business Interruption Loan Scheme. Small and medium sized (SMEs) businesses will be able to apply for bank loans and overdrafts.

The UK government will provide lenders with a guarantee of 80% on each loan (subject to a per-lender cap on claims) to give lenders further confidence in continuing to provide finance to SMEs. The UK government will not charge businesses or banks for this guarantee, and the Scheme will support loans of up to £5 million in value.

Businesses can access the first 6 months of that finance interest free, as UK government will cover the first 6 months of interest payments.

Q. How do I apply for a loan?

A. Further details, including on the lenders providing access to this scheme will be announced in the coming days, and the scheme will be available from early week commencing 23 March 2020.

 

Additional support

Get help and support for your business on Business Wales, or phone 03000 6 03000.

Get grants, loans and investment for your business on Development Bank of Wales, or phone 0800 587 4140.