April 19, 2024 - 415 views
Micro, small and medium-sized businesses in the retail, hospitality, and leisure sectors can now check if they are eligible for Welsh Government funding to help them reduce their running costs.
Grants of between £5,000 and £10,000 will be available through the Welsh Government’s Future Proofing Fund to help businesses to invest in renewable energy technology, carry out improvements to the fabric of business premises, and upgrades to systems or machinery to reduce energy use.
To apply for the funding, the business must:
Be located in Wales and employ people in Wales
Employ between 1 and 249 people
Have been trading since before 5 April 2023
Operate from a property with a rateable value between £6,001 and £51,000
Either own or are leasing the business premises on a minimum 3-year lease that extends beyond 4 April 2026.
The Cabinet Secretary for Economy, Energy and Welsh Language, Jeremy Miles, said:
"We are doing all we can to provide support to businesses in the ongoing cost-of-living and cost-of-doing-business crises and to help businesses flourish by adapting for the future and reducing the burden and volatility of energy costs on bills and the environment for good.
"I urge anyone running a micro, small or medium-sized business in the retail, hospitality, and leisure sectors to check if they are eligible for the funding now, before applications open in May."
The Minister for Retail and Tourism, Hannah Blythyn, said: "This is a fantastic opportunity for a wide range of micro, small and medium-sized businesses to get help to make long-term changes to their business, to be more efficient and to keep bills down.
"Check if you’re eligible for this help and the security we hope it can provide to concentrate on developing your business, profits and staff."
See the eligibility checker here: Future proofing fund | Business Wales (gov.wales)
