Welsh Government’s £20m Fund to Enhance Business Sustainability Opens Soon

Through the Future Proofing Fund, the Welsh Government aims to support up to 2,500 retail, hospitality, and leisure businesses with funding to help them reduce their running costs.

The Fund will enable firms to strengthen their future trading position by increasing profitability through investment in renewable energy technology, improvements to the fabric of their premises, and upgrades to systems or machinery to reduce energy use.

From a budget of £20 million, grants of between £5,000 and £10,000 will be available. They will be paid up to 75% of project costs or £10,000, whichever is the lesser amount.

Announcing the upcoming scheme, Economy Minister Vaughan Gething said:

‘The ongoing cost-of-living and cost-of-doing-business crises continues to present difficulties to businesses across Wales.

‘These grants will help micro, small and medium-sized businesses from the retail, hospitality and leisure sectors to make some significant changes in the way they run their operations so they can adapt for the future.’

Micro, small and medium-sized businesses located in Wales (either headquartered or have an operating address in Wales) and which employ people in Wales may apply.