News
Town Centre Entrepreneurship Fund launched:- Welsh Government
17 - 06 - 2021
A Town Centre Entrepreneurship Fund has been launched by the Welsh Government, which will run as a pilot programme. The fund will provide financial assistance in the form of a discretionary grant of between £2,500 and £10,000 per qualifying business, for the revenue costs associated with starting up or relocating in one of the following four town centres across North Wales:
Town Centre Entrepreneurship Fund launched: A Town Centre Entrepreneurship Fund has been launched by the Welsh Government, which will run as a pilot programme. The fund will provide financial assistance in the form of a discretionary grant of between £2,500 and £10,000 per qualifying business, for the revenue costs associated with starting up or relocating in one of the following four town centres across North Wales: • Wrexham • Bangor • Colwyn Bay • Rhyl To qualify for the fund applicants will have to meet the following eligibility 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. Full guidance notes, together with an expression of interest form (which can be completed and submitted now) are available via the link below. This form will need to be completed in order to access the fund. Having completed the expression of interest form you will be assigned a dedicated Business Adviser who will support and guide you through the full application process: https://businesswales.gov.wales/business-wales-town-centre-entrepreneurship-fund Funds permitting, the Town Centre Entrepreneurship Fund will be open for applications until 20th June 2022. The scheme will close for applications early should all the funding which has been made available, be assigned before this date. A loan element has also been developed with and will be operated by the Development Bank of Wales offering loans from £1,000 through to a maximum of £50,000. For further information please follow the link below: https://gov.wales/3-million-north-wales-town-centres-fund-open-applications
