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Business grants are a sum of money you can claim to support your company without having to pay it back. There is a range of business grants in Wales available for companies that operate in the region. Here, we highlight the different types of grants currently on offer and explain how much you might be able to claim.
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What is a business grant?
A business grant is typically a non-repayable sum of money awarded to a business that meets a certain set of criteria. That funding will go towards an organisation completing a certain activity or project, sometimes dictated by the grant itself.
Some business grants are partially or conditionally repayable, however, so it is important to read the details before applying.
As well as business grants in Wales, there are small business grants available across the United Kingdom. There may also be funding for specific groups, such as business grants for women.
Business grants in Wales
Below are some business grants available to organisations across the whole of Wales. You can find a complete list using the Business Wales finance locator.
Enterprising Communities – ARFOR Programme Support Fund
Sectors: Commercial, social, cooperative and community enterprises
Amount: Between £5,000 and £75,000 (70% of project costs)
Details: Businesses based in, or looking to relocate to, the ARFOR region – that’s the Welsh language ‘strongholds’ of Anglesey, Gwynedd, Ceredigion and Carmarthenshire – can apply for grants of between £5,000 and £75,000. This is to cover 70% of costs related to projects that strengthen the Welsh language, including developing new local enterprises, creating modern employment opportunities, and keeping wealth in the region.
Wales Tourism Investment Fund (WTIF)
Sectors: Tourism
Amount: £100,000 to £5,000,000 blended grant and loan
Details: This fund focuses on boosting capital investment into the Welsh tourism industry to create a positive impact on the sector and the regional economy. It is a mix of a grant and a loan, so businesses will need to pay back some of the money they receive, usually over a period of between 10 and 15 years. Businesses can invest the money into upgrading or creating new, high-quality assets that help to boost Wales’s image and offer benefits to the economy and the region as a whole.
ReAct+
Sectors: (Small and medium-sized enterprises (SMEs)
Amount: Up to £3,000 in quarterly instalments of up to £750 for the first 12 months; up to £1,000 for job-related training
Details: Businesses that recruit someone who has recently been made redundant can access funding to cover the costs of some of their wages. The scheme aims to help people get back into work quickly, and it is hoped businesses will receive other benefits from employing them in addition to the funding, such as improved productivity and having a trained, skilled workforce. 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.
Business grants in North Wales
The following a selection of business grants available for organisations in North Wales:
Conwy Business Support Grant
Eligible regions: Conwy
Sectors: Social enterprises, farm diversification, retail/wholesale, tourism, services (This is not an exhaustive list.)
Amount: £200 to £1,500 to cover 50% of project costs
Details: If a Conwy business has a planned project that will result in extra staff and increased turnover, then it may be eligible for this grant. It can be used to buy capital equipment (including IT hardware), marketing material, specialist training, and pay other professional fees that will help a business achieve its desired outcome.
Community Toilet Grant Scheme
Eligible regions: Gwynedd County
Sectors: SMEs
Amount: Up to £500
Details: Businesses within Gwynedd County can receive up to £500 from the local council if they open up their toilet facilities to the general public. There is currently a waiting list to join this scheme.
ISO Grant Scheme
Eligible regions: Gwynedd County
Sectors: SMEs
Amount: Cost of consultant
Details: SMEs can use this business funding to help them gain ISO accreditations that will demonstrate their products, services, and systems are safe and of a good quality. The money will pay for the cost of a consultant to work with the business to achieve the standard needed for accreditation, although it will not pay for the certification itself.
Business grants in South Wales
Below are the business grants available for organisations in South Wales:
Bridgend Special Regeneration Fund
Eligible regions: Bridgend
Sectors: Start ups and SMEs, primarily business to business (B2B)
Amount: £1,000 to £5,000 to cover up to 40% of costs
Details: This grant is designed to help businesses grow and develop. The grant can fund various activities including capital equipment purchases, website development, and premises improvements.
Caerphilly Enterprise Fund
Eligible regions: Caerphilly
Sectors: SMEs, start ups, community organisations
Amount: Up to £2,000 to cover 50% of expenditure (revenue); up to £10,000 to cover 50% of costs (capital)
Details: Businesses can apply for funding for both capital and revenue costs, including external and internal building works, feasibility studies, marketing, and IT equipment. Applicants must demonstrate how their funded project would bring economic, social, cultural, and environmental benefits to Caerphilly.
Cardiff Knowledge Transfer Partnerships
Eligible regions: Cardiff
Sectors: SMEs and large organisations
Amount: Variable, but guidance states £25,000 a year for SMEs (67% grant), and £35,000 a year for large organisations (50% grant)
Details: A Knowledge Transfer Partnership (KTP) is a three-way partnership between an organisation, a graduate and, in this instance, Cardiff University. It is designed to provide businesses with access to academic skills and expertise. Alongside SMEs and large organisations, third sector businesses of any size can receive a grant contribution of 75% of eligible project costs, subject to a cap.
Carmarthenshire Business Renewable Energy Fund
Eligible regions: Carmarthenshire
Sectors: New and existing businesses in, or planning to locate within, Carmarthenshire
Amount: Between £1,000 and £25,000 (covering 50% of total project costs)
Details: This grant was established to help businesses in the Carmarthenshire area purchase renewable business energy systems, such as small scale wind turbines or commercial solar panels.
Rhondda Cynon Taf Business Growth Grant Scheme
Eligible regions: Rhondda Cynon Taf
Sectors: SMEs
Amount: 75% of projects costs up to £2,000 (if based in a residential premises) or £15,000 (if based in a commercial premises)
Details: Eligible SMEs in the Rhondda Cynon Taf region can apply for a grants to assist with capital expenditure, including buying equipment, international renovation works, energy efficiency measures and website development.
Rhondda Cynon Taf Town Centre Maintenance Grant
Eligible regions: Town centre retail areas of Aberdare, Ferndale, Llantrisant, Mountain Ash, Pontypridd, Porth, Tonypandy and Treorchy.
Sectors: Retail
Amount: 75% of project costs, up to £2,000; additional grant of £500 available to cover skip costs
Details: Retail traders and owners of vacant properties can apply for a Town Centre Maintenance Grant to help make shop front improvements in selected town centres.
Swansea Business Growth Grant
Eligible regions: Swansea
Sectors: SMEs
Amount: up to £50,000, based on a limit of £5,000 per job created or safeguarded
Details: Businesses looking to introduce a new product or service in the Swansea area can apply for a grant worth a maximum of £50,000. This total is based on a limit of £5,000 per job created or safeguarded through your business growth.
Swansea Property Enhancement Development Grant
Eligible regions: Swansea city centre, Morriston town centre
Sectors: SMEs
Amount: Up to 40% of costs
Details: This scheme focuses on improving the appearance of commercial premises and on finding occupants for vacant and derelict properties. The amount of funding that organisations can receive will vary on a case-by-case basis, with possible areas that the money can be used on including shop fronts, roofs, floors, ceilings, signage, wiring, and others.
Swansea Website Development Grant
Eligible regions: Swansea
Sectors: SMEs adopting new technology online
Amount: Up to £1,500 (50% of costs in match funding)
Details: If you are a Swansea-based business looking to adopt new technology online, or via website development, you can apply for a match funded grant worth 50% of project costs to a maximum of £1,500.
Start up business grants in Wales
While some of the grants mentioned above are eligible for start ups, the following are specifically for new and early-stage businesses:
Barriers to Start-up Grant
Eligible regions: Wales
Sectors: Economically inactive and unemployed individuals aged 25-years and over
Amount: Up to £2,000
Details: This start up grant is for unemployed and economically inactive people looking to start a self-employed business in Wales. Alongside a grant worth up to £2,000, the scheme also provides one-to-one support and confidence building webinars, alongside advisors to provide further start up guidance.
BG Effect Business Fund
Eligible regions: Blaenau Gwent
Sectors: Start ups
Amount: Up to £1,000 to cover 80% of costs
Details: This start up business grant aims to help new enterprises develop and achieve their growth objectives, whether that’s by funding expert advice and support, necessary equipment purchases, marketing materials, or business location costs.
Blaenau Gwent Kick Start Plus
Eligible regions: Blaenau Gwent
Sectors: Start ups that are six months to three years old
Amount: Up to £1,000 to cover up to 50% of costs
Details: Established to complement the start up grant, this Kick Start grant aims to help businesses develop and expand further. Eligible costs of this fund include marketing, website development, IT, and training.
Caerphilly Business Start-up Grant
Eligible regions: Caerphilly
Sectors: Start ups
Amount: Up to £500 to cover up to 50% of costs
Details: Individuals in Caerphilly wanting to set up a business may be able to receive support from this start up business grant. Funding can be used to help new businesses grow and develop, by contributing to the costs of equipment, IT equipment, web development, marketing, building works, and other costs incurred from starting a business.
Carmarthenshire Business Start Up Grant
Eligible regions: Carmarthenshire
Sectors: Start ups
Amount: Between £1,000 and £10,000 (50% of project costs, or maximum of £5,000 per job created, whatever is the lesser)
Details: Start ups based in Carmarthenshire can access grants of up to £10,000, with a focus on creating new jobs. The minimum grant award is £1,000, based on a new job being created, with the business owner being included as a new job.
Neath Port Talbot Innov8 Scheme
Eligible regions: Neath Port Talbot
Sectors: Start ups
Amount: Up to £1,000 (to cover 50% of costs)
Details: This grant is part of a wider support package for people aged 18-years and over looking to start, develop or grow a business in Neath Port Talbot. Alongside the funding, entrepreneurs can access workshops and courses, information on business premises, and ongoing support.
Swansea Pre-Start Grant
Eligible regions: Swansea
Sectors: Start ups
Amount: Up to £10,000 (to cover 95% of first £1,000 of costs, and then 50% of costs)
Details: If you are looking to start a brand new business in Swansea, you can apply for a grant worth up to £10,000 to help with getting your idea off the ground, including buying equipment, undertaking training, or paying for marketing.
Young Person’s Start Up Grant
Eligible regions: Wales
Sectors: Individuals under the age of 25
Amount: Up to £2,000
Details: If you are under the age of 25, and live or are returning to live in Wales, and want to become self-employed, you could be eligible for a grant of up to £2,000 to assist you in starting your business.
Alternative ways to finance your business
There are several alternatives to finance your business if you’re unable to secure a grant.
For example, crowdfunding can help you raise funds from the public directly, while peer-to-peer lending lets you borrow from a pool of investors.
It’s also possible to finance your business by using an angel investor in return for a share of your company.
Traditional business loans can also give you access to funds to help expand your company.
Image source: Getty Images
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