Business Wales Town Centre Entrepreneurship Fund
The Welsh Government has launched the Town Centre Entrepreneurship Fund as a pilot programme to provide financial assistance for entrepreneurs and businesses who are looking to start and grow a business in one of four town centres across North Wales – Bangor, Colwyn Bay, Rhyl and Wrexham.
This fund will be available as a discretionary grant of between £2,500 - £10,000 per business to support with the revenue costs associated with starting up in or relocating to a town centre.
In order to access the fund, you must submit an Expression of Interest form (available to download below) and register with Business Wales. You will then be assigned a dedicated Business Adviser who will support and guide you through the full application process.
Applicants will also have to meet the following criteria:
- Either be a new business start-up (pre-revenue) or a micro business (employing between 0-9 employees) that has been trading for less than 2 years.
- Provide a viable 12-month business plan for the designated town centre location.
- Provide 12-month cashflow forecasts from date the new business will start trading at the town centre location.
- Demonstrate a minimum of 100% match funding for the grant (through savings, loans etc.).
- Be able to commit to a tenancy in one of the four towns centres for a minimum of 12 months.
- Have access to a business bank account for the business applying for the grant.
- The business is/will be the applicant’s main source of income and/or employment.
- Be registered and wholly operating in Wales.
- Applications must be submitted by the business owner and not agents acting on their behalf however, this does not mean that applicants cannot access support to help with completing the application form.
There are no exclusions for anyone who has previously had financial support from either Welsh Government or Local Authorities, providing they meet the eligibility criteria for this fund.
The Business Wales Town Centre Entrepreneurship Fund is open to applications until 20 June 2022, funds permitting. If funds are used up before this date the scheme will close.
For more information on the fund and the eligibility criteria, please download the guidance notes and Expression of Interest form below. If you have any questions and wish to speak to one of our team, please contact 03000 6 03000.