Capital grants for tourism in Wales

Posted by LindaStenner on March 4, 2020

Capital grants for tourism in Wales

March 04, 2020 at 3:44 PM

Tourism businesses in Wales can apply for grant aid from the Welsh Government’s Micro and Small Business Fund (MSBF) but the terms and conditions can be quite onerous.

The MSBF is available for small businesses with fewer than 50 employees to upgrade or create high quality tourism projects, offering grants between £25,000 and £500,000.

“Applicants should study the documentation carefully as they might end up having to spend the 40 per cent grant largely on complying with the scheme's requirements,” said Eifion Bibby of Davis Meade Property Consultants.

In parts of Wales outside Assisted Area the grant is limited to 20 per cent. A maximum of £10,000 per FTE job created or safeguarded will be granted so to get the minimum grant of £25,000, 2.5 jobs must be generated. 

“The fund prioritises high quality, innovative tourism products such as luxury hotels, all weather attractions, spa and top end leisure facilities rather than camping or glamping sites and smaller proposals more generally so it might not be particularly attractive to many farmers,” he added.

For more information contact Eifion Bibby at the Colwyn Bay office of Davis Meade Property Consultants on 01492 510360, email eifionbibby@dmpcuk.com.

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