- Flickr: Business Graph
Small business grants in Wales are more likely to come from government bodies or charity organisations. Unlike a loan you don't have to pay back a grant in most cases, though there are a few exceptions.
The amount of grant you receive and who you receive it from will depend entirely on the organisation who provides the grant and the terms they set out. In any case you should only apply for organisations that specifically meet your business needs; you shouldn't apply for a community business grant if you intend to set up a small IT consultant business, for example. Applying for organisations that don't offer financial solutions to your type of business will only waste time. Take a look at your choices carefully and only apply to organisations who would be interested in your business proposal.
The potential success of the business will also play a role the small business grants in Wales. The area you intend to set up your business will also significantly impact what kind of finance you receive; if you intend to set up in a highly industrialised city with plenty of resources you're more likely to get a small business grant. The type of business you want to start will affect the location of your business, so it's important you've thought through your plans and proposals before submitting a grant application. You'll need to prove to potential organisations that your business can thrive in the location you've chosen and that you've carefully considered your financial options.
Informative Websites and Databases
The easiest way to locate small business grants in Wales are through online databases and government websites. Databases will allow you to search through government schemes, grants, business incentives and private organisations looking to fund any type of business you wish to set up. Some such websites are:
IT Wales (itwales.com)
Business Wales (business.wales.gov.uk)
Business Link (businesslink.gov.uk)