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Small and medium sized businesses in Wales could be able to claim up to £10,000 in Welsh Government support.

The £20 million Future Proofing Fund aims to help businesses in the retail, hospitality, and leisure sectors invest in future-proofing.

The Welsh Government has said the fund will help up to 2,500 businesses invest in renewable energy technology, improvements to their premises, or upgrading machinery to reduce energy use.

The fund will be open to businesses employing between one and 240 people, which has been trading since before April 5, 2023.

Eligible businesses will need to operate from a property with a rateable value of between £6,001 and £51,000, and either own or lease their premises on a minimum three-year lease extending beyond April 4, 2026.

Jeremy Miles, Wales’ cabinet secretary for economy, 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.”

Caerphilly’s Labour MS, Hefin David, welcomed the funding and encouraged businesses in his constituency to apply.

Dr David said: “I know there are many small and medium businesses within my constituency who desperately need help like this, during what have been an increasingly challenging few years.

“I would encourage anyone who meets the criteria to apply for this funding and get the help that they are entitled to, to help them make running costs more manageable and to provide some financial security.”

Visit Business Wales’ website for more information about the fund.