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    Last update 16/08/2024

    Funding Opportunities in Gwynedd: Grants & Loans for Startups & Small Businesses

    Gwynedd, a region noted for its rich history and stunning natural landscapes, provides robust support for businesses to thrive. Whether you're initiating a startup or aiming to expand your existing operations, Gwynedd offers a variety of grants and government-backed loans to fuel your business ambitions.

     

    Grant and Loan Programs

    Grants:

    • Arfor Programme: Supports local economic development, tourism, and the preservation of Welsh culture with grants from £5,000 to £75,000, covering up to 70% of eligible costs. Arfor Programme

    • Business Development Funds: Includes:

      • Spark Fund: Up to £2,000 for early-stage businesses.
      • Transform Fund: Up to £10,000 for existing businesses to grow and transform. Projects must be completed by December 31, 2024. Business Development Funds
    • Town Centre Property Improvement Grant: Grants ranging from £2,500 to £250,000, covering up to 70% of costs for improving the external appearance of properties in town centers. Town Centre Property Improvement Grant

    • Shared Prosperity Fund: Supports projects that enhance economic growth and community development.

     

    Government-Backed Loans:

    • Business Loan Fund: Loans from £2,000 to £25,000 to support business initiatives. Business Loan Fund

    • Town Centre Loans Fund: Loans from £5,000 to £50,000 for businesses in town centers.

    • Start-Up Loans Wales: Government-backed personal loans from £500 to £25,000 with free mentoring. Start Up Loans Wales

    • Development Bank of Wales: Offers loans and equity investments to support growth. Development Bank of Wales

     

    Key Resources

     

    Council Contact Information

     

    Advice on Applying

    • Contact: Engage with Business Wales or Gwynedd Council to explore suitable funding options.
    • Check Eligibility: Ensure your business meets all eligibility criteria for the desired funding program.
    • Prepare a Strong Application: Include a well-developed business plan and financial projections.
    • Meet Deadlines: Submit all applications by the due dates.

     

    Frequently Asked Questions

    1. What is the maximum funding available through the Arfor Programme?

      • Up to £75,000, covering up to 70% of eligible costs.
    2. Can I apply for both the Spark Fund and Transform Fund?

      • Yes, depending on your business stage and project requirements.
    3. What types of improvements are eligible for the Town Centre Property Improvement Grant?

      • External renovations that enhance property appearances in town centers.
    4. How do I apply for a loan from the Development Bank of Wales?

      • Applications can be made directly through their website.
    5. What support does Business Wales provide to entrepreneurs?

      • Guidance on funding, business planning, and workshops.
    6. Is there a deadline for the Business Development Funds?

      • Yes, all projects must be completed and claimed by December 31, 2024.
    7. Who is eligible for the Shared Prosperity Fund in Gwynedd?

      • Businesses and community projects promoting local economic growth.
    8. What are the terms for the Business Loan Fund?

      • Loans are available from £2,000 to £25,000 to support various business activities.
    9. Can startups apply for the Town Centre Loans Fund?

      • Yes, if they are setting up or expanding within Gwynedd's town centres.
    10. What is the interest rate for loans from the Start-Up Loans Wales?

      • Competitive rates with free mentoring for 12 months.

     

    These funding opportunities provide a solid foundation for businesses in Gwynedd to thrive and expand.

     

     

     

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