Who can we help?
All businesses can make use of our online information and tools however our service is funded by the European Regional Development Fund and as such there are certain criteria that businesses wishing to access the support must meet, these are outlined below:
Small to Medium Sized Enterprise (SME) - this is defined as businesses with less than 250 employees, with an annual turnover of less than €50 million, and/or annual balance sheet not more than €43 million. Businesses more than 25% owned by a company that is not a SME are not eligible for support.
- Business must be based in Wales. Businesses with a head office outside of Wales can only be supported if the economic benefits are realised by the local business based in Wales.
- Some business sectors cannot be supported, either because there are other funds to help them or because it is anti-competitive; those areas are agriculture/ fisheries and primary food production, shipbuilding, steel, coal, transport, manufacture of synthetic fibres, textiles and any services which are already provided by the state such as school age education and healthcare.
To ensure that the support is allocated only to Welsh companies meeting the criteria, we will ask you to provide some information to demonstrate this. It is the aim of funding to support businesses to grow therefore support will require you to work with us and share information.
Please note, we are only able to support businesses that are already trading and businesses can only benefit from the Superfast Business Wales service once.