Applying for business grants in Wales

If you are a business owner in Wales you may wish to consider applying for some of the many business grants that are provided by the Welsh government. Depending on your location within the region and the field in which you are involved, there are quite a few funding and support options available to suitable candidates. Business grants in Wales are typically handed out to Welsh-based businesses only, which will provide employment and services to their local communities.

The Co-operative Research Projects business support scheme is a European Union grant which is aimed at smaller businesses. It is designed to help fund small to medium-sized enterprises, or SMEs, in R&D projects that are being undertaken in conjunction with other EU-based organisations.

More home-based business grants in Wales include the Venture Capital Fund Partners scheme, which aims to provide capital to eligible businesses. This fund is worth up to £5 million and is designed to fund acquisitions, buy-outs and buy-ins. It may also be provided to support businesses who operate in the technology industry. Further information is available at foresightgroup.eu.

Another option to consider is the Enterprise Management Incentives provided by HM Revenue and Customs. This scheme allows qualifying businesses to provide their employees with tax-advantaged share options. These shares are an added bonus to highly skilled employees who choose to work with small businesses, and are an added incentive to potential employees. Full information can be found at hmrc.gov.uk/shareschemes/emi/appendix1.htm.

Those who are seeking the full range of available business grants in Wales should visit business.wales.gov.uk. A complete of incentives and schemes can be found here.

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