Small Business Grants & Start Up Business Grants in Wales - UPDATED

There is a range of small business grants in Wales available to help growing companies in the region. Find out how much you could potentially claim for your business.

Brean Horne Last updated on 22 November 2022.
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Small Business Grants & Start Up Business Grants in Wales - UPDATED

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.

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.

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 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 to 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 £10,000 (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.

Carmarthenshire Rural Enterprises Fund

Eligible regions: Carmarthenshire

Sectors: Rural enterprises

Amount: Up to £100,000 (£20,000 per job created or to cover 25% to 45% of costs, whichever is lower)

Details: This grant helps rural businesses fund development projects for their premises that will ultimately safeguard and/or create employment opportunities in the region.

Rhondda Cynon Taf Enterprise Investment Fund

Eligible regions: Rhondda Cynon Taf

Sectors: SMEs, start ups

Amount: £1,500 to £10,000 (commercial premises); £500 to £1,500 (home-based premises) to cover up to 50% of costs

Details: The Enterprise Investment Fund aims to support economic growth across Rhondda Cynon Taf by helping businesses to expand and achieve its growth plans.

Swansea Digital Development Grant

Eligible regions: Swansea

Sectors: SMEs

Amount: Between £500 and £1,500

Details: This grant is for businesses in Swansea to improve their digital visibility and online presence. This can cover revenue costs associated with website development and training courses.

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.

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.

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.

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.

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About the author:

Brean is a personal finance writer at NerdWallet. She covers a range of financial topics and has written for consumer titles including Which?, Moneywise and The Motley Fool. Read more

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