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

Powys offers various financial support options for startups and small businesses, aiming to foster growth and innovation within the county.

Grant and Loan Programs

Grants

Powys Business Start-up Grant
Funded by the UK Government's Shared Prosperity Fund, this grant provides between £1,000 and £10,000 to support new business creation. It requires the creation of at least one job and covers 50% of eligible costs or £5,000 per job, whichever is less.
Powys Business Start-up Grant
Transforming Towns Placemaking Grant
Offers capital funding for projects that rejuvenate town centres across mid-Wales. Supports local businesses, social enterprises, and public bodies.
Transforming Towns Placemaking Grant

Government-Backed Loans

Start-Up Loans Wales
Provides personal loans from £500 to £25,000, along with 12 months of free mentoring, for new businesses in Wales.
Start Up Loans Wales
Development Bank of Wales
Offers loans and equity investments from £1,000 to £3 million to support businesses at various stages.
Development Bank of Wales

Key Resources

Business Wales
The primary resource for business support and advice in Powys.
Business Wales
Powys County Council - Business Support
Provides detailed information on local business support programs and funding opportunities.
Powys County Council - Business Support
Find Business Support
Search for funding and support programs based on your location and business needs.
Find Business Support

Advice on Applying

Contact Business Wales: Start your funding search by consulting with advisors who can provide personalized guidance and assistance.
Eligibility is Key: Make sure your business meets all the criteria for each grant or loan before applying.
Prepare a Standout Application: Include a comprehensive business plan and detailed financial projections.
Respect Deadlines: Submit your applications on time to ensure they are considered.
Seek Expert Advice: Utilize the support offered by business advisors or consultants for application preparation and strategic planning.

Frequently Asked Questions (FAQs)

What costs are covered by the Powys Business Start-up Grant?
- It supports various startup costs such as equipment, marketing, and initial operational expenses.
Can I apply for multiple grants at once?
- Yes, depending on each grant's requirements and whether your projects align with multiple programs' goals.
What is required in the business plan for grant applications?
- Your business plan should detail your business model, market analysis, financials, objectives, and how the grant will help achieve these goals.
How long does it take to receive funding after approval?
- Processing times can vary; it's best to check with the specific program for detailed timelines.
Who is eligible for the Transforming Towns Placemaking Grant?
- Local businesses, social enterprises, and public bodies engaged in projects that will enhance town centers.
What type of mentoring is provided with the Start Up Loans?
- Mentoring typically covers business planning, financial management, marketing, and other key areas of business operations.
Are there specific sectors that the Development Bank of Wales focuses on?
- They provide support across various sectors, with a particular interest in innovative and scalable businesses.
What happens if my application is rejected?
- You can request feedback and potentially reapply or seek alternative funding options.
Can non-profits apply for business grants in Powys?
- Yes, non-profits may be eligible for certain grants, especially those aimed at community and economic development.
Is there ongoing support after receiving a loan or grant?
- Most programs offer post-funding support, which can include further mentoring, training, or advisory services.

Explore these resources and prepare thoroughly to take full advantage of the funding opportunities available in Powys. For personalized advice or to begin your application, contact Business Wales or consult the Powys County Council's business support pages.

Value AD

CAN BE

ALTERNATIVE

INVESTMENT

What is Value Ad?

Value Ad is an innovative policy designed to foster a mutually beneficial relationship between two key groups: new businesses and service providers. This policy helps startups save significantly on essential services while enabling service providers to gain valuable traction and growth opportunities.

How is it a Win-Win Deal?

For New Businesses:

Cost Savings: Startups can save 50% to 80% on essential services such as website development and marketing. This means they don’t need to invest heavily upfront, making it easier to launch and grow their business.

Alternative Investment: The money saved through these discounts can be reinvested into other critical areas of the business, acting as an alternative investment that fuels further growth and development.

For Service Providers:

Initial Customer Base: Service providers, often tech startups themselves, can attract a significant number of initial customers by offering their services at a discounted rate. This helps them build traction and demonstrate value, which is crucial for attracting venture capital (VC) funding and other opportunities.

Marketing Efficiency: By providing affordable services, service providers do not need to spend heavily on marketing to acquire new customers. The discounted services themselves become a powerful marketing tool, bringing in customers who can spread the word and enhance the provider’s reputation.

Growth and Expansion: Attracting more customers through Value Ad helps service providers expand their client base and build long-term relationships, which can lead to increased revenue and business growth.

Alternative Investment for New Businesses:

For new businesses, the significant cost savings achieved through the Value Ad policy effectively serve as an alternative investment. Instead of spending large amounts on website development and marketing, they can leverage the affordable services provided by service providers. The saved funds can be redirected into other strategic areas of the business, enhancing overall growth and sustainability.

Benefits for Service Providers:

Service providers benefit from the Value Ad policy by gaining access to a ready pool of new customers who are drawn by the discounted rates. This initial customer base is crucial for:

Building Traction: Demonstrating product or service viability to potential investors.

Securing Funding: Enhanced customer traction and a growing user base can make the service provider more attractive to venture capitalists and other funding sources.

Market Penetration: Establishing a presence in the market quickly and efficiently without heavy marketing expenditures.

In Summary:

Value Ad is a strategic policy designed to create a win-win scenario for both new businesses and service providers. By offering significant discounts on essential services, startups can save and reinvest those savings, while service providers gain crucial initial customers and market traction. This mutually beneficial arrangement supports the growth and success of both groups, making Value Ad a powerful tool for business development and investment.

Value AD

CAN BE

ALTERNATIVE INVESTMENT