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24 April 2024

Future Proofing Fund Opens for Eligibility Checks

Businesses in the retail, hospitality and leisure sectors can now check if they are eligible for funding to help them reduce their running costs.

Grants of between £5,000 and £10,000 will be available through the Welsh Government’s Future Proofing Fund to help micro, small and medium-sized businesses to invest in renewable energy technology, carry out improvements to the fabric of business premises, and upgrades to systems or machinery to reduce energy use.

To apply for the funding, the business must:

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

The Cabinet Secretary for Economy, Energy and Welsh Language, Jeremy Miles, said:

“We are doing all we can to provide support to businesses in the ongoing cost-of-living and cost-of-doing-business crises and to help businesses flourish by adapting for the future and reducing the burden and volatility of energy costs on bills and the environment for good.”

Businesses are being invited to check if they are eligible for the funding now, before the applications open in May 2024.

Eligibility can be checked by visiting: https://businesswales.gov.wales/future-proofing-fund

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