Business Funding Support in Wales
With decades of experience in business support, Principality Consulting has the ability to identify suitable Business Funding Support in Wales to make your business plans a reality.
Funding to make it happen
Our objective is to make it as simple as possible for new and growing businesses to access the right finance to realise their ambitions. The Principality Consulting team is available for advice and guidance on applications – and our free diagnostic service will probably assist in framing your thoughts on the scope of your project. For example:
Access Broadband Cymru (ABC) and the Ultrafast Connectivity Voucher (UCV)
- ABC will now be available to all homes and businesses across Wales which “currently do not have a superfast connection” (30Mbps+)
- ABC will now offer two levels of funding depending upon the Internet speed required. The first level will offer £400 for download speeds of 10Mbps+ and the second level will offer £800 for 30Mbps+. New connections through this scheme must deliver a step change in speed – with at least double your current download speeds (e.g. a current connection of 10Mbps must improve to at least 20Mbps).
- UCV is being opened up to businesses across Wales to help them meet the initial capital costs involved in installing ultrafast broadband services.
- up to £10,000 voucher for an ultrafast service. The 1st £3,000 of eligible costs are 100% funded by Welsh Government, between £3,000 and £17,000 is 50% funded, and above £17,000 no additional funding is provided.
Innovation vouchers for capital expenditure projects up to £30k.Welsh Government Innovation Vouchers
0% unsecured business loans remain available to small and medium sized businesses in Wales wishing to upgrade to more energy efficient equipment.
For qualifying businesses, Loans are available from £3,000 to £100,000 and are repayable over 1-4 years.
The loans are designed to pay for themselves – with the projected energy savings being equal to the monthly repayments.
The 0% business loans can be used for a variety of energy efficient technology projects including;
- Air Conditioning
Many customers start with the more straightforward projects such as lighting, and then move on to others once they have seen the benefit of energy cost reductions. Customers may have more than one loan up to a total value of £100,000.
Terms and Conditions and eligibility rules apply, please visit the Carbon Trust website
Business Growth Fund
The Business Growth Fund, can help fast-growing small and medium-sized businesses. The Business Growth Fund (BGF) has been established to help Britain’s fast growing smaller and medium sized businesses. With up to £2.5bn of available funds, we provide long-term equity investment for those growing companies that today do not have enough access to this source of capital.
Growth potential is the key criteria, and our investments will be used to fund a wide variety of business plans from simply increasing working capital to making a strategic acquisition, from capex to increase capacity to a step change in sales and marketing, from an export drive to new product development. BGF invests between £2m and £10m in return for a minority stake in a business.
Welsh Government Digital Development Fund
The Welsh Government Digital Development Fund provides funding up to £50,000 and up to 50 per cent for Projects involving creative products or services, which can be exploited across multiple digital platforms and in international markets. Support given under this fund is not repayable.
It is expected that applications will usually be above £5,000; however, applications under this amount will be considered in exceptional circumstances. Applicants must be registered as businesses or have a substantial business base in Wales and be able to demonstrate how their product or service will be exploited commercially.
For full information, help or guidance with your application please contact us.
UK Steel Enterprise
UK Steel Enterprise offers Equity and/or loan finance is available for start-ups, expansions, acquisitions and buy-outs across many business sectors including manufacturing and service related. Share capital and share/loan packages are available up to £750,000 on terms individually negotiated for each investment. Small loans are generally unsecured. Secured loans are available up to £750,000.
- Investment from £1k to £2m plus
- Up to £5m total investment in one company
- Structured to suit the business requirement, including equity or unsecured debt
- Suitable for range of purposes from a number of funds
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Or log onto https://www.gov.uk/business-finance-support-finder/search for a more comprehensive list.