The new start-up grant will support up to 2,000 businesses in Wales, with £2,500 each. This will provide crucial funding to people who established their businesses between 1 April 2019 and 1 March 2020, helping them to continue trading through the pandemic.
The fund will be worth £5m initially with flexibility for the future. It will support start-up firms, which fall outside the UK Government’s Self Employment Income Support Scheme (SEISS) as they only began trading in 2019.
Applications for this grant will open on 29 June, at the same time as phase two of the Economic Resilience Fund opens to applications.