Business grants in Wales

By Tim Adler on Small Business UK - Advice and Ideas for UK Small Businesses and SMEs If you are looking to start your own business in Wales or already run one, you could be eligible for a range of Welsh business grants The post Business grants in Wales appeared first on Small Business UK.

Apr 13, 2024 - 10:52

By Tim Adler on Small Business UK - Advice and Ideas for UK Small Businesses and SMEs

Business grants Wales concept. Vista of Cardiff Bay showing the Pier head building National Assembly for Wales and the millennium centre against a blue sky

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.

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: business@blaenau-gwent.gov.uk

Bridgend – UK Shared Prosperity Fund: Business Development Grant

What is it: The Business Development Grant will support Small and medium-sized enterprises (SMEs) in Bridgend County Borough to diversify, decarbonise and grow which will contribute to creating a vibrant and strong local economy.

How much: Provides 50 per cent of eligible capital projects costs. The minimum grant is £5,000 and the maximum grant available is £25,000 (excluding VAT). So, the maximum project cost is £50,000 (excluding VAT).

Who can apply: Businesses in Bridgend.

How to apply: Find out more information at https://www.bridgend.gov.uk/business/funding-and-grants/business-support-grants/.

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: ieuan.sherwood@bridgend.gov.uk

Cardiff Grassroots Venue Fund

What is it: The new (Shared Prosperity Fund) SPF Grassroots Venue Fund will support existing venues to invest in their venue to make them more financially or environmentally sustainable.

How much: Capital grants from £1,000 to £10,000 and the grant will be 50 per cent of total project spend, excluding VAT.

Who can apply: The new fund will be available to Cardiff Local Authority based venues who meet the following criteria:

– A limited company, registered social enterprise, CIC or charity
– Has an operating turnover in last two years above the VAT threshold (£85,000)
– An established business that has been trading more than two years
Cardiff venue whose primary purpose is cultural performance
– An SME (less than 250 employees and an annual turnover under €50 million)

How to apply: Contact cardiffvenuefund@cardiff.gov.uk for further information on eligibility criteria and application details.

Cardiff Growth Fund

What is it: The new (Shared Prosperity Fund) SPF Cardiff Growth Fund will support businesses to relaunch, develop and grow. The funding provides an opportunity to kick-start and grow the economy with the focus on creating a fairer, greener and prosperous future for Cardiff businesses.

How much: Grants from £2,500-£10,000. Grant will be 50 per cent of total project spend excluding VAT.

Who can apply: The new fund will be available to Cardiff Local Authority based companies who meet the following criteria:
– A limited company, registered social enterprise or charity
– Has an operating turnover in last three years above the VAT threshold
– An established business that has been trading more than 3 years
– Cardiff business address
– An SME (less than 250 employees and an annual turnover under €50 million)

How to apply: Contact cardiffgrowthfund@cardiff.gov.uk for further information on eligibility criteria and application details.

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 in-house 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 1 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.

Denbighshire – UK Shared Prosperity Fund: Prosperous Denbighshire

What is it: Grants are available to micro and small businesses in Denbighshire to support their growth and development, as part of the wider UK Shared Prosperity Fund programme.

How much: There are two grants available:
Larger projects: 70 per cent capital and revenue grant, with a maximum total project spend of £25,000 (which would be £17,500 grant funds and £7,500 applicant cash match funding). There is a minimum grant application value of £3,000.

Micro business Start Up and Small Business grant: up to 100 per cent revenue grant with a maximum total project spend of £2,000. To enable the fund to reach as many businesses as possible, a cash match contribution will score higher at panel. There is a minimum grant application value of £1,000.

Who can apply: Applications are accepted from new and existing micro and small businesses and social enterprises based in Denbighshire.

How to apply: Find out more information here.

Flintshire – UK Shared Prosperity Fund: Town Centre Activities and Events Grant

What is it: The Town Centre Activities and Events Grant (TCAEG) has been established to support the prosperity of the town centres by organising events and activities that bring more people to the town centre. We acknowledge that town centre businesses have, and continue to, face an economically challenging time so by boosting activity in the town centre will benefit the businesses with increased footfall.

How much: Grants of between £500 and £10,000 are available, to fund up to 80% of total project costs.

Who can apply: The proposed activity and events could be creative and range from large events to small activities.

How to apply: The first stage is to contact the Regeneration Team by email on regeneration@flintshire.gov.uk to discuss your application. The Regeneration Team will ensure that you are fully informed and supported throughout the process.

The Regeneration Team can provide an application form and event guidance – these are also available on the Council’s website here: https://www.flintshire.gov.uk/en/Business/Town-Centre-Regeneration/Grants-and-Funding.aspx

Monmouthshire – Access Improvement Events Support Scheme

What is it: Grants of up to £5,000 are available to deliver activities and improve access at visitor related events in Monmouthshire.

How much: Up to £5,000

Who can apply: Applicants looking to improve accessibility at visitor related events and event activities in Monmouthshire.

How to apply: Fill in the form online 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 Business Start-up Grant

What is it? The funding provided under the programme is to assist new start-up businesses to become established and to provide full time or part time employment for the applicant.

Applicants may claim up to £5,000 to help with start-up costs. This will be match funded at:
– 100% for up to £2,000,
– 50% for between £2,000-£5,000

Who can apply: Funds are discretionary. Applications will be considered on a case-by-case basis after assessing the grant eligibility criteria and the benefits of the grant to the business.

How to apply:
There is a two stage online application process:
– Expression of Interest
– Application

To discuss your proposed project please email spfbusiness@npt.gov.uk

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 50 per cent of net costs up to £2,500 are available for businesses outside the city centre and grants up to £5,000 for those located within the city centre.

The grant can be used as match funding towards up to five capital equipment items. Specifically, this covers, plant and equipment, ICT equipment and software, and/or website development and related training.

This grant cannot be used towards salaries, signage, furniture, property refurbishment, the purchase of vehicles, stock/consumables, marketing collateral, training and/or licenses.

Applicants need to evidence that they have existing funds to cover the total cost of the investment, as the grants are paid retrospectively.

Please note: all funds must be spent by the end of March 2025. There is a limited amount of funding available, and the grant scheme will close once all funding has been allocated, which may be before the end of the financial year.

Who can apply: Only businesses with an eligible investment project will be invited to apply.

How to apply: Please email business.services@newport.gov.uk in the first instance.

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 £4,000 in quarterly instalments for the first 12 months.

Who can apply: The person you wish to recruit must be aged 20 or over, disabled and either:

– Be under formal Notice of Redundancy or be within six months of the date of redundancy or
– An ex-offender or an offender who is serving their sentence in the community

How to apply: You can apply for an employer’s grant to recruit somebody out of work here.

Rhondda Cynon Taf Business Growth Grant

What is it: The aim of the BGG is to support sustainable local business to set up, grow and diversify, contributing to creating a vibrant and strong local economy.

You can use it on capital expenditure, such as:
– Capital equipment, plant or machinery
– Internal renovation works for commercial properties
– Energy efficiency / carbon reduction measures
– New website development

Revenue costs are not eligible as part of this grant.

How much:

Enterprises based in commercial premises
Minimum grant: £2,000
Maximum grant: £15,000

Enterprises based in residential premises:
Minimum grant: £1,000
Maximum grant: £2,000

Maximum of 75 per cent contribution towards eligible project costs (excluding VAT).

Who can apply:

– Operate within the County Borough area of Rhondda Cynon Taf and be classed as a start-up or existing business (both private and social enterprise)
– Be a Full time Small and Medium Size Enterprise (SME) with fewer than 250 employees
– Have either an annual turnover not exceeding €50 million or an annual balance sheet not exceeding €43 million
– Pay either Council Tax or National Non Domestic Rates (including exemption) to Rhondda Cynon Taf County Borough Council

How to apply: More information on the Business Growth Grant 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: All applicants will be required to provide a business plan/summary and a 12-month cashflow forecast.

How to apply: For further details and to request an application form, please email growthgrant@swansea.gov.uk.

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 growthgrant@swansea.gov.uk

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, with 50 per cent match funding.

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 growthgrant@swansea.gov.uk

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 startupgrant@swansea.gov.uk.

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. Items eligible for a grant include building facades, roofs, shop fronts, floors, ceilings, staircases, rewiring and signage.

How to apply: Email business@swansea.gov.uk

Swansea – UK Steel Grant

What is it? A grant scheme in partnership with UK Steel Enterprise Ltd offering up to £500 for new start-ups or businesses which are under two years old in the Swansea Council area.

How much? Up to £500. 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 startupgrant@swansea.gov.uk.

Young Person’s Start Up Grant

What is it?

How much?

Who can apply?

How to apply?

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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