Hi and welcome to our first blog post, finding business grants for Welsh business startups.
Despite being in the grips of a pandemic, 2021 saw a 3.8% rise in the number of new companies formed in Wales. Over 21,000 new companies opened their doors and braved the world of business.
That’s why our first blog is for you guys, the brave business start ups.
This blog has a list of currently available Local Authority business and government grants. It also shows you how to find more business grants for Welsh business start-ups.
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If you are applying for business funding to create a website, we'd love to help, we can provide a fast, free website quote for your grant application. Contact us today.
What start up grants are available in Wales?
What is the difference between a Grant and a Loan?
Blaenau Gwent County Borough Council funding
Caerphilly County Borough Council funding
Conwy County Borough Council funding
Neath Port Talbot Council funding
Vale of Glamorgan Council funding
Where to find more business funding
Things you should Know first
You will probably need a basic Business Plan to apply for some of these business start up grants. So, brainstorm your business goals, objectives, marketing strategy and future development plans.
What is the difference between a Grant and a Loan?
Business Grants
A grant is a free sum of money. You apply for the grant and the organisation evaluates and awards money based on its own criteria. You do not have to pay this money back. Sometimes you may be asked to make a monetary contribution to the project. This is called match funding. For example, they give you 80% of the costs and you pay the other 20%.
Business Loans
A loan is not free money, you will be required to pay it back in monthly instalments with interest and fees. To qualify, you will be asked about your business finances and will need a business plan. Most lenders will ask you to put something you already own up as collateral.
For example, your business or a house. If you are unable to pay the loan back in the future, you will be compelled to sell the collateral item to pay back the loan. A loan has an APR attached to it. This indicates the average cost of interest and fees you will need to pay back over the loan term. A higher APR equals a higher pay back cost.
Local Government grants for small businesses in Wales
Blaenau Gwent BG Effect Start-up Business Grant Fund
The maximum grant award is £1,000, excluding VAT. Grants cover a maximum of 80% of eligible project costs. Applicants must be able to fund 20% of the total funding required.
This is for Business start-ups in Blaenau Gwent area.
This grant covers any activity which helps convert an idea into a real business. E.g. market research, legal and accountancy costs, feasibility study, etc. The purchase of essential equipment needed to operate the business. The cost of marketing materials to start up a business, e.g. leaflets, business cards, banners, a website, etc. Rental of a suitable site/premises or repairs or cosmetic improvements to a business premises.
01495 355700
Kick Start Plus
The maximum grant award is £1,000, excluding VAT. Grants cover a maximum of 80% of eligible project costs. Applicants must be able to fund 20% of the total funding required.
This is for new businesses from six months up to three years old in the Blaenau Gwent Council area.
It covers ICT equipment. Website. Marketing. Training/Accreditations.
01495 355700
Caerphilly business start-up grant
This is a discretionary grant and can provide up to 50% of eligible project costs to a maximum of £500.
This is for new businesses who are not able to access any other sources of funding, in the Caerphilly County Borough. You do need a business plan and financials for this grant.
You can use it for capital equipment. ICT equipment. Development of websites. Marketing. Building works to business premises.
Business Enterprise Renewal Team
01443 866220
Caerphilly Enterprise Fund
For revenue costs - The maximum grant is £2,000 at an intervention rate of 50%. The Capital element of this grant is now on hold.
This is for new and established businesses and community enterprises throughout the Caerphilly County Borough.
It can be used for Websites and e-commerce sites, feasibility studies, business planning, one off marketing costs.
01443 866220
Conwy Business Support Grant
Apply for grants from £200 to £1,500 covering up to 50% of project costs. Applicants are required to find 50% of project costs.
This is for new and established businesses in the county of Conwy.
This covers capital equipment including tools and IT hardware. Marketing materials designed to implement a targeted market plan (not advertisements). Specialist training of business owner or staff. Specialist professional fees to achieve a tangible outcome.
Please note: This grant currently has a processing time of 8-10 weeks because of the high demand.
01492 574 574
Neath Port Talbot Innov8 Scheme
Apply for up to 50% of eligible start up costs, up to a maximum of £1,000.
This grant is for anyone over 18 years of age who is setting up a business in the Neath Port Talbot area.
You can use this grant for all capital costs (with the exclusion of vehicles) as well as pre-start costs such as stock, overheads and marketing.
Sian Wyndham 07971 719745
Neath Port Talbot UK Steel Grant
The maximum grant is £500 and eligible costs are 100%.
This grant is for businesses up to 24 months old, in the Neath Port Talbot area.
You can spend this on capital equipment, ICT equipment, development of websites, marketing, building works to business premises, *expenditure incurred prior to grant approval is not eligible for grant funding.
Sian Wyndham 07971 719746
Rhondda Cynon Taf Enterprise Investment Fund
This grant is for commercial Premises - Minimum £1,500 up to a maximum of £10,000. Homed Based Premises - Minimum £500 up to a maximum of £1,500.The Enterprise Investment Fund has an Intervention Rate of a maximum of 50% of eligible Project Costs (excluding VAT). Please note expenditure incurred before grant approval is not eligible for funding.
This is for Small and Medium Sized Enterprises (SMEs), including start-ups as well as existing businesses, located in Rhondda Cynon Taf area.
The aim of the Enterprise Investment Fund is to support sustainable economic growth across Rhondda Cynon Taf.
01443 281124
Start-up grant
This grant scheme is up to £1,000.
This is for individuals either entering self-employment or starting a new business (under 2 years old), within the Swansea area. Prioritisation will be given to individuals on Universal Credit / Income Support.
It covers equipment, qualifications, accountancy, software, web development, training, and tools.
UK Steel Grant
This is for new start-ups or businesses which are under 2 years old in the Swansea Council area.
This is for equipment, qualifications, accountancy, software, web development and tools.
Vale Business Start-Up Bursary
This fund is up to £5,000, with 20% match funding required.
This is for individuals and groups of people intending to start a new business or social enterprise in the Vale of Glamorgan.
It covers support and expert advice to develop your business idea, e.g. market research, legal and accountancy costs, feasibility study, etc. Purchase of essential equipment needed to operate the business. Cost of marketing materials to start up your business, e.g. leaflets, business cards, banners, website design, etc. Rental of a suitable site/premises from which to operate the business. Visits to similar local businesses or enterprises in order to learn from their experiences.
A panel meets every three months to consider applications.
VSUBursary@valeofglamorgan.gov.uk
07751 645374
North East Wales - Enterprise Renewal
A 50% grant, up to a maximum application value of £10,000 grant funds, the other 50% is match funded by the business. The minimum application value is £2,000 (which would be £1,000 grant funds and £1,000 applicant cash match).
This fund is for micro-businesses and new small business start-ups in rural Denbighshire, Flintshire and Wrexham.
Eligible spending includes, purchase or lease/hire of new machinery and equipment. Installation costs. Professional fees for services. Marketing strategies and/or marketing costs for new products or processes. Digital, communication and information technology. Computer and network hardware and/or software. Broadband technology. Website and app development. Accounting/inventory/ordering systems. Sustainable/renewable energy. Waste minimisation and recycling projects. Site improvements.
EnterpriseRenewal@barsbyassociates.com
07921 787 668
Barriers to Start-up Grant for 25 year olds and over
A grant of up to £2,000 is available.
This fund is for 25-year-olds and over who are economically inactive or unemployed. and looking to start up a self-employed business in any part of Wales.
This covers any essential costs of starting a business. You need to complete an expression of interest form first.
Barriers2SUG@BusinessWales.org
Big Ideas Wales - Young Person's Start Up Grant
This grant is up to £2,000 alongside a package of support that will include one-to-one advice, webinars to build confidence in business practices and develop plans for starting a business.
This scheme is for under 25's who want to start a business. It is to enable young people not in education, employment or training to start their own business, create a social enterprise, become self-employed, a freelancer or social entrepreneur in Wales.
This fund covers specialist support - consultancy fees, ICT, export, marketing, lean methodology. Legal/professional advice. Training costs. Business related equipment (up to the value of £1,000). Operating costs. You need to complete an expression of interest form.
Beauty Backed Trust - Start up grant / Support grant
There are two types of grants available. Start up grants of up to £5,000 and a support grants of up to £5,000.
The start up grant is for individuals or business partners wishing to enter the beauty industry who already have recognised qualifications. The support grant is for established businesses in the beauty industry who require assistance.
The grants are for training costs, purchasing equipment and stock, securing suitable workspace and costs associated with running a business.
Beauty Backed Trust Grant Programme
Black Artists Grant
A max grant of £500. Given out monthly to one recipient.
This grant is for black artists in the UK.
You can spend this on anything you want.
Working Class Creatives Grant (WCCG)
A max grant of £500. Given out monthly to one recipient.
This grant is financial support to help U.K based creatives of all ages in the early stages of their careers.
You can spend this on anything you want.
Oli Bennett Charitable Trust Young Entrepreneur Grants
This grant is for up to £2,000. The Trustees prefer to assist in buying a business asset as opposed to providing funds for general expenses.
This is for Entrepreneurs aged between 18 and up to their 30th birthday.
The Trust supports new or very young businesses rather than assisting with expansion plans for larger businesses.
07775 654519
Gigabit broadband voucher scheme
This is an immediate help Voucher worth up to £1,500 for homes and £3,500 for businesses.
This is for people experiencing slow broadband speeds in rural areas.
This covers the costs of installing gigabit broadband to people’s doorsteps.
Help to grow digital
A grant token worth up to £5,000, 50% towards the costs of buying approved software. Free and impartial advice on how technology can help your business.
This is for UK SME's.
This covers approved software such as Customer Relationship Management (CRM), Digital Accounting, eCommerce.
TechX Clean Energy Accelerator applications
This scheme chooses only 12 innovative clean energy start-ups who have clear potential to significantly accelerate the transition to an affordable net zero energy industry. You recieve a grant of up to £100,000 and expert help from partners, mentors and industry contacts.
Start ups must be at technology readiness level (TRL) of 2 to 6. You can be based anywhere within the GMT time zone, but must be available to stay in Aberdeen for 3 seperate weeks during the programme.
Closing date 9th October 2022
Where to find more business funding
Grants onlineA list of grants from Government agencies, local authorities, the European union and grant making trusts. https://www.grantsonline.org.uk/
UK Grant Funding
UK Grant Funding has a list of grants from many UK Funding Bodies, including UKRI, Innovate UK, SBRI, APC, ATI and many others.
https://tbat.co.uk/uk-funding/
Finance and support for business
Grants from the Department for Business, Energy & Industrial Strategy .
https://www.gov.uk/business-finance-support
Welsh government finance locator
A free search on the Business Wales platform for funding opportunities. There are currently 1049 opportunities. No registration required.
https://businesswales.gov.wales/businessfinance/finance-locator
Third sector support Wales
A free funding search platform for social, charity and community groups with 356 opportunities currently on it. You need to register to use the search.
https://funding.cymru/
Other forms of funding for small Businesses
Research and Development (R&D) Tax ReliefIf you are undertaking any science or technology research for product or service development, you may be entitled to receive tax relief for the time spent doing this R&D.
https://www.gov.uk/guidance/corporation-tax-research-and-development-rd-relief
The Government Apprenticeships scheme for Wales
Hire an apprentice and get the training funded by the government.
https://businesswales.gov.wales/skillsgateway/skills-and-training-programmes/apprenticeships
General Skills and Work Programmes in Wales
Support and funding for up-skilling and training.
https://businesswales.gov.wales/skillsgateway/skills-and-training-programmes
The Prince’s Trust
Helping 18- to 30-year-olds find the tools and confidence to try free courses and start careers.
https://www.princes-trust.org.uk/
General business support
Senedd supportSmall businesses - a guide for constituents. This pdf is form 2021 and it has a list of financial and business-related links where new and existing small business in Wales can find support and guidance.
https://senedd.wales/media/c4dfgknq/english.pdf
Find your local authority website
If you need to find a council website this page has a list of all councils in Wales. Although it may not be your local council, you can still make use of any business advice they have on their website. Some council’s provide better information for small businesses than others.
https://gov.wales/find-your-local-authority
You could also set up your own Google alert for grant funding
Did you know you can get Google to watch the internet for you? It can send you an alert when a certain topic appears in search results. Like a news article, product article, your company name, or grants. You obviously need a Google account and choosing the right phrases to look for is a bit fiddly, but trial and error should get you some results.
https://support.google.com/websearch/answer/4815696?hl=en
Keep checking our Know How Series as we’ll be giving you the know-how on Business planning, website design, web development and SEO in the future.