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New fund launches for retail, hospitality and leisure businesses

The Welsh Government has today launched its new Future Proofing Fund.

The fund offers match-funded capital grants of between £5,000 and £10,000 for micro, small and medium-sized businesses in the retail, hospitality, and leisure sectors.

Grants must be used entirely during the financial year 2024 - 2025, and must be invested in measures to future proof the business - such as realising cost savings, reducing the percentage of fixed costs impacting the business or increasing revenue.

The total project costs can be any amount, but the Welsh Government grant element cannot exceed 75% of the eligible capital project costs or £10,000, whichever is the lesser amount. The business will contribute the remaining match amount from other sources.

Applications for the fund are open from today until 11:59pm on Thursday, June 6, or until the total value of submitted applications exceeds the budget allocation. 

It is anticipated that all successful applications will be notified by August 31.

Interested applicants must complete an eligibility checker prior to accessing the on-line application form, via the link below.

All the information on the fund is contained in the link, including the guidance documentation.


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