‘Future proof funding’ available to help businesses reduce running costs

Businesses in Wales can now apply for up to £10,000 to help reduce their running costs.

Applications are now open for micro, small and medium sized businesses in the retail, hospitality, and leisure sectors to access funding to invest in future proofing their business.

The Welsh Government’s £20 million Future Proofing Fund will help up to 2,500 businesses invest in renewable energy technology, improvements to their premises, and upgrades to systems or machinery to reduce energy use.

Grants of between £5,000 and £10,000 is available to businesses located in Wales which:

• employ between 1 and 249 people
• have been trading since before 5 April 2023
• operate from a property with a rateable value of between £6,001 and £51,000
• either own or are leasing the business premises on a minimum 3-year lease that extends beyond 4 April 2026.

The Cabinet Secretary for the Economy, Energy and Welsh Language, Jeremy Miles, said: “Micro, small and medium sized businesses are what makes our economy tick, and as a Government we’re committed to helping them succeed.

“I hope to see as many businesses as possible benefit from this opportunity to become more efficient by keeping their bills down for good so they can concentrate on developing their business, profits and staff.

“My message to businesses today is simple, if you’re eligible – go ahead and apply now for this help.”

More information on how to apply for the funding can be found here.