By Tim Adler on Small Business UK – Advice and Ideas for UK Small Businesses and SMEs
What business grants are available in Wales?
Wales is a beautiful nation with inspiring scenery, wonderful hospitality and leisure activities and a proud industrial heritage. But beyond the picture-postcard Wales are regions of economic deprivation, which the Welsh government and local authorities are keen to address.
Offering business grants to companies in Wales is one way to encourage start-ups and the self-employed to promote economic activity and stimulate employment.
Whether you’re situated in dramatic Snowdonia, urban Swansea, or anywhere in-between, if you already run a small business in Wales – or are looking to start one – then you could be eligible for a range of grants.
Small Business Pro, our all-in-one solution, can save you time and money as well as offering peer support and the chance to win a monthly £2,500 grant. It will also help with the heavy lifting of managing customers, taking payments, insurance, finance and HR, plus you’ll get a host of personal wellbeing benefits.
You can find out more about Small Business Pro here.
>See also: Business grants for women
Are there any business grants in Wales?
Yes, there are plenty of business grants in Wales.
A grant is a sum of money given to an individual or business for a specific business project or purpose.
Business grants in Wales usually cover only part of the total costs involved.
Grants may be linked to business activity, employment creation or a specific industry sector. Some grants are linked to geographic areas, e.g., those in need of economic regeneration.
Grants are either available only in specific regions of Wales or are available across the entire country.
ARFPOR Programme Support Fund
What is it? Grants are available to commercial, social, cooperative enterprises and community enterprises that aim to preserve and increase local prosperity in areas considered strongholds of the Welsh language, namely Anglesey, Gwynedd, Ceredigion and Carmarthenshire (the ARFOR region).
How much: Grants of £5,000 to £75,000 are available, to fund up to 70 per cent of total project costs. All projects must be completed by December 31, 2024. Applicants are required to provide at least 30 per cent of their total project costs from other sources.
Who can apply:
– Supported projects and activities will contribute to the following programme objectives:
– Create opportunities for young people and families (<35 years old) to stay in or return to their indigenous communities – supporting them to succeed locally by engaging in enterprise or developing a career and ensuring a livelihood that fulfils their aspirations.
– Create enterprising communities within Welsh-speaking areas – by supporting commercial and community enterprises that aim to preserve and increase local wealth by taking advantage of the identity and unique qualities of their areas.
– Maximise the benefit of collaborative activity – by establishing a mindset of learning by doing and continuous improvement, learning from an activity within individual areas and then extending it, but tailoring it to local circumstances.
– Strengthen the identity of communities with a high density of Welsh speakers – by supporting the use and visibility of the Welsh language, encouraging a sense of place and local loyalty, together with increasing awareness of what is common across the region.
How to apply: Application details and further information can be found on the websites of the four county councils comprising the ARFOR region, and from the ARFOR programme website. Applications may be made at any time.
Barriers to Start-up Grant
What is it: Aimed at unemployed and economically inactive people looking to start a self-employed business in Wales. The scheme offers mentorship and support alongside the grant.
How much: up to £2,000
Who can apply: Unemployed and economically inactive entrepreneurs 25-years-old or older who want to start their own business.
How to apply:
Applicants will need to complete an expression of interest (EOI) document to begin the application process, once completed the document must be returned to [email protected]
Full details and guidance regarding the grant can be found here.
Blaenau Gwent – BG Effect Business Fund
What is it: Help for those who are in the early stages of start-ups in the Blaenau Gwent area.
How much: Up to £1,000 to cover 80 per cent of costs
Who can apply: Start-ups that are six months to three years old based, in Blaenau Gwent.
How to apply: More details about the BG Effect Business Fund can be found here. Email: [email protected]
Blaenau Gwent – Kick Start Plus
What is it: The grant is aimed at supporting new businesses from six months up to three years old to develop and expand.
How much: Up to £1,000 to cover up to 50 per cent of costs
Who can apply: Help for those who are in the early stages of start-ups in the Blaenau Gwent area.
How to apply: More details about the Blaenau Gwent Kick Start Plus can be found here. Email: [email protected]
Bridgend Special Regeneration Fund
What is it: Designed to help businesses to grow and develop. This grant can fund various expenditures including:
– Capital equipment purchases
– Specialist software
– Website development
– Premises improvements
How much: £1,000 to £5,000 to cover up to 40 per cent of costs
Who can apply: Start-ups and existing businesses, primarily business-to-business (B2B), which are located, or planning to locate, in Bridgend County Borough.
How to apply: All businesses will be required to submit an application form and a business plan. New businesses will also need to provide at least 12 months’ cash flow and profit and loss forecasts. Existing companies will need to provide at least two years’ historic certified accounts. Alternatively, they can submit up-to-date management accounts if certified accounts are over six months old.
Email: [email protected]
Cardiff – Knowledge Transfer Partnership
What is it? A Knowledge Transfer Partnership is a grant to help you develop an innovative idea if you do not have enough inhouse expertise to do so. The cost of a KTP is comparable to employing a well-qualified graduate in your company, with Innovate UK covering two thirds of the cost.
How much? Project development costs can vary but can typically will be around £80,000 to £100,000 for each year of development. For small and medium-sized enterprises the grant rate is 67 per cent of the project cost; for large companies 50 per cent.
How to apply: Find out more about the eligibility criteria for KTP here
Caerphilly Business Start-Up Grant
What is it: This business development grant is to help companies to start up a business for the first time. Business start-ups in all business sectors may be considered.
How much? Up to 50 per cent of eligible project costs to a maximum of £500.
Eligible costs could include:
– Capital equipment
– ICT equipment
– Development of websites
– Marketing
– Building works to business premises
– Training
Who can apply: The applicant must be setting up the business in the Caerphilly County Borough.
How to apply: Start-up businesses will need to submit a business plan and application form here. Existing businesses will also need to submit trading accounts. The business must not have started prior to application and approval.
Caerphilly Enterprise Fund
What is it: Funding is available from Caerphilly County Borough Council to help small and medium-sized enterprises in Caerphilly to help them develop and grow.
How much? £ 10,000
Funding is to be used for costs such as:
· Business planning
· Feasibility studies
· One-off marketing costs
· Websites and e-commerce sites
· Capital equipment
· IT hardware and software
· Property and infrastructure improvements to commercial, industrial and retail premises
Who can apply: The fund is aimed at sole trader start-ups and small and medium sized enterprises with fewer than 250 employees.
How to apply: Start-up businesses will need to submit a business plan and application form here. Existing businesses will also need to submit trading accounts.
Carmarthenshire Business Renewable Energy Fund
What is it: Grants for businesses in Carmarthenshire towards the purchase of renewable energy systems for business premises.
How much: Grants of between £1,000 and £10,000 are available, covering a maximum of 50 per cent of total project costs.
Who can apply: The funding is intended to support local businesses to be sustainable and to help them to grow and prosper while helping them on their net zero carbon journey.
Support is aimed primarily at existing businesses, operating in, or servicing the following sectors:
– Advanced materials and manufacturing
– Construction
– Creative industries
– Energy and environment
– Finance and professional services
– Information technology and telecoms
– Life sciences
– Food & drink
– Tourism
– Retail
– Care
Applicants must either own the freehold or hold a lease with a seven-year minimum period remaining after the final grant payment date. Applicants must secure their landlord’s written consent for the proposed works.
How to apply: Applications will be considered on a first-come, first-served basis until the fund is fully allocated. Guidance notes and the expression of interest form can be found here.
Ceredigion & Powys – Transforming Towns Placemaking Grant
What is it? Ceredigion County Council has secured funding alongside Powys County Council from the Welsh Governments’ Transforming Towns Programme to help support capital investment to regenerate a number of our towns across Mid Wales. The Transforming Towns Place Making Grant offers support for a wide range of projects, from green infrastructure developments to internal and external commercial and residential improvements for business owners.
How much? Up to £250,000 per project, which needs to be completed by 3 March 2025.
Who can apply: The scheme is open to private businesses, including developers, third sector businesses, and the public sector. It is not available to private individuals.
How to apply: Applicants can discuss potential projects with their local project officer who can advise whether the project could be eligible and help with the expression of interest process.
Conwy Business Support Grant
What is it: Funding is available to new and existing businesses in Conwy for projects that will meet one or more of the following objectives:
– Increase profitability
– Increase turnover
– Employ additional staff
How much: £200-£1,000 to fund up to 50 per cent of project costs.
Who can apply:
– New businesses (at least three months old)
– Established businesses
– Businesses with a trading address in the county of Conwy
Eligible businesses include manufacturing, retail, tourism and services.
Funding can be used to meet the following costs:
– Capital equipment including tools and IT hardware
– Marketing materials
– Staff or owner training
– Specialist professional fees to meet grant objectives above
How to apply: Apply through the Conwy Business Support website here.
Denbighshire– Community Innovation
What is it: Funding is intended to support Denbighshire entrepreneurs to test viability of business concepts while evaluating the positive impact they could have on the local economy.
How much: Grants of £5,000 are available with a total of 25 awards on offer totalling £600,000.
Who can apply: Grants are available to micro-firms to trial new products, systems and services as part of business development which will contribute to regional and environmental benefits.
How to apply: Further information can be found on the Cadwyn Clwyd website.
Gwynned ISO Grant Scheme
What is it: Funding available towards costs of a consultant to work with businesses in order to achieve ISO accreditations. This is turn will help local businesses apply for tendering opportunities with Gwynedd Council, other local authorities, government organisations and the private sector.
How much: On application
Who can apply: Small and medium-sized businesses located in Gwynned.
How to apply: Further details of the Gwynned ISO Grant Scheme can be found here.
Neath Port Talbot Innov8 Programme
What is it: Funding, support and advice available to people aged 18 who are starting, developing or growing a business in Neath Port Talbot.
The funding can be used for all capital costs (excluding vehicles) as well as pre-start costs including stock, overheads and marketing.
How much: Up to 50 per cent of eligible start-up costs up tp £1,000
Who can apply: Young entrepreneurs based in Neath Port Talbot.
How to apply: More information can be found that at the Innov8 website.
Neath Port Talbot Start-up Grant
What is it? Business grants are available to assist new business start-ups in the Neath Port Talbot area only when they do not meet the eligibility criteria for other grant sources, such as Welsh government.
Who can apply: Funding is available to businesses operating on both a full-time and part-time basis. Part-time businesses must be operational for at least 16 hours per week. Funds are discretionary and applications considered on a case-by-case basis.
How to apply: For more information, please email [email protected]
Newport – Accelerated Business Growth Grant Scheme
What is it: The City of Newport Accelerated Growth Grants Programme enables a well-established, new to the region, business to set up premises in Newport; or allows an existing Newport-based business to accelerate its growth ambitions.
How much: £25,000-£75,000, worth up to 50 per cent of total expenditure
Who can apply: Well-established businesses that want to open a branch in the city of Newport area or businesses already based in the area that want to expand.
How to apply: If you think you will be making an eligible investment in the next six weeks, that you can demonstrate will lead to business growth and further job creation, please provide an outline of your project to business.services@newport.
Newport – Start-up Business Grants
What is it? Grants of up to £2,500 are available outside the city centre and up to £5,000 for city centre businesses – up to a maximum 50 per cent of net costs. Elements of these grants are discretionary based on various economic and wellbeing objectives.
Who can apply: The grant is available towards the following elements:
– First year’s rent when taking on commercial premises. (Eligible businesses are start-ups, or existing businesses who are taking on additional/larger premises or those who have been trading from home and are relocating to commercial premises)
– Plant and equipment
– ICT equipment and software
– Website development and related training
– Accredited training (short courses for up-skilling staff members)
– Business/IT consultancy, professional fees and accreditations
ReAct+
What is it: Support for businesses to recruit someone who has recently been made redundant to cover some of the costs of their wages.
How much: Up to £3,000 in quarterly instalments for the first 12 months; up to £1,000 for job-related training. An additional £1,000 is available if you recruit a disabled person or a young person aged 18-to-24 years old. If you recruit a young disabled person, an additional £2,000 is available
Who can apply: The person you wish to recruit must be aged 18 or over and either:
– Be under formal Notice of Redundancy orBe within 12 months of the date of redundancy or
– Be within 12 months of becoming unemployed for reasons other than redundancy or
Aged 18-24 years old and not in education, employment or training
How to apply: You can apply for an employer’s grant to recruit somebody out of work here.
Rhondda Cynon Taf Enterprise Investment Fund
What is it: Funding to support the sustainable economic growth of small and medium-sized businesses in Rhondda Cynon Taf.
How much: £1,500-£10,000
– Grants of £1,500-£10,000 for businesses in commercial premises
– Grants of £500-£1,500 for home-based businesses
Businesses must match 50 per cent of eligible project costs (excluding VAT).
Who can apply: Business based in Rhondda Cynon Taf that do not have annual turnover exceeding £40m or an annual balance sheet not exceeding £34m.
How to apply: More information on the Enterprise Investment Fund can be found here.
Swansea – Business Growth Grant
What is it? This is a grant with the objective of supporting business growth through introduction of a new product or service in the Swansea area. The grant can fund costs including but not limited to equipment, IT systems and machinery.
How much? The maximum grant available is £50,000 based at an upper limit of £5,000 per job created and/or safeguarded.
Who can apply: Jobs created and/or safeguarded, the new product or service and the proposed spend must all be directly linked. All applicants will be required to provide a business plan/summary and a 12-month cash flow forecast.
How to apply: For further details and to request an application form, please email [email protected].
Swansea – Digital Development Grant
What is it: Grants to support established businesses in Swansea to improve their digital visibility and online presence through website development, training courses, etc.
How much: £500-£1,500
Who can apply: Established business in Swansea
How to apply: Email [email protected]
Swansea – Carbon Reduction Grant
What is it: This is a grant with the objective of enabling businesses in Swansea to work towards net zero carbon. The grant can fund costs including renewable energy generation, energy conservation measures and changes to manufacturing processes which result in carbon reduction; applicants must be able to calculate their forecast carbon savings.
How much: The maximum grant available is £10,000.
Who can apply: Established business in Swansea. All applicants will be required to provide a business plan/summary and 12-month cash flow forecast.
How to apply: Email [email protected]
Swansea – Placemaking Grant
What is it? Grants for improving small commercial and district shopping centres across the city and county of Swansea which are outside the city centre (subject to subsidy control rules).
The purpose of the investment is to boost the variety of services on offer in towns; create flexible working and living space; celebrate and preserve local heritage so that it is safeguarded for future generations; and increase access to services and leisure.
How much: Up to £30,000
Who can apply: small commercial and district shopping centres.
How to apply:
All schemes will need to be completed by 30 November 2024 and will require at least 30 per cent of the total project costs to be match funded from another source.
The schemes considered will focus on the built environment and include interventions such as the refurbishment and repurposing of empty and derelict buildings, improving biodiversity through green infrastructure, and improvements to public spaces.
Swansea – Pre-start Grant
What is it? This is a grant with the objective of supporting start-up businesses in the Swansea area. The grant is available to pre-start businesses only and can fund costs including but not limited to equipment, training, accreditation and marketing.
How much? The maximum grant available is £10,000. The fund offers up to 95 per cent of the project costs for the first £1,000 of expenditure and 50 per cent for expenditure between £1,000 – £10,000. All applicants will be required to provide a business plan and a 12-month cash flow forecast.
How to apply: For further details and to request an application form, please email [email protected].
Swansea – Property Enhancement Development Grant
What is it: Funding to help bring derelict or vacant properties by developing new and improved fronts for shops and buildings.
How much: Project dependent up to 40 per cent of the work that needs to be done.
Who can apply: Businesses in the Swansea area. To qualify for the grant, it must help generate new jobs. Items eligible for a grant include building facades, roofs, shop fronts, floors, ceilings, staircases, rewiring and signage.
How to apply: Email [email protected]
Swansea – UK Steel Grant
What is it? A grant scheme in partnership with UK Steel Enterprise Ltd offering up to £1,000 for new start-ups or businesses which are under two years old in the Swansea Council area.
How much? Up to £1,000. However, the grant will only cover 50 per cent of the eligible project costs and the minimum grant payable is £250.
Who can apply: Grant funding covers items such as equipment, qualifications, accountancy, software, web development and tools.
How to apply: The funding pot is limited and will be allocated on a first come, first served basis. For further details, please contact [email protected].
Wales Tourism Investment Fund (WTIF)
What is it? The Welsh Government, in partnership with the Development Bank of Wales, has launched a new £50m Wales Tourism Investment Fund (WTIF), which brings together both commercial and grant funding into one combined package of financial support.
How much? The new fund will provide patient capital to tourism businesses of between £100,000 and £5 million for qualifying projects
Who can apply? Repayment term is between 10-15 years, and can include seasonality payment breaks. Cash can be used either to upgrade existing, or create new, high quality assets in the tourism sector.
How to apply? If you are interested in receiving more information on the WTIF, please email [email protected] or call 0845 010 8020
Related:
A complete list of Scottish business grants – Here, we provide information on the Scottish business grants that could help your company grow and flourish
150 UK small business grants to apply for right now – UPDATED – In need of some funding for your small business? These grants should give you a boost, wherever you’re based in the UK.
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