Wales has a distinctive devolved funding landscape: the Development Bank of Wales provides finance (loans and equity) to Welsh businesses, and Business Wales offers support and signposts grants — both alongside UK-wide schemes such as the Growth Guarantee Scheme. Welsh businesses can access all of these. Grants often require match funding and can combine with finance. Start with Business Wales and the Development Bank of Wales.
Key takeaways
- The Development Bank of Wales provides finance (loans and equity) to Welsh businesses.
- Business Wales offers support and signposts grants and funding.
- Welsh businesses can also use UK-wide schemes like the Growth Guarantee Scheme.
- Grants typically come via Business Wales, Welsh Government and councils.
- Funding often requires match funding and can combine with finance.
- Start with Business Wales and the Development Bank of Wales.
Wales has one of the most distinctive funding landscapes in the UK, thanks to its own development bank and business support service. For an established business in Wales, that means access to devolved finance and support as well as the UK-wide schemes. This guide explains the key Welsh bodies — the Development Bank of Wales and Business Wales — what funding is available, who is eligible, and where to look.
A devolved funding landscape
Because business support is devolved, Wales runs its own programmes and bodies alongside UK-wide schemes. The two standouts are the Development Bank of Wales and Business Wales. Welsh businesses can draw on these devolved resources and on national support such as the Growth Guarantee Scheme — giving you more routes to funding than national schemes alone.
The Development Bank of Wales
The Development Bank of Wales is a Welsh Government-owned development bank that provides finance to businesses in Wales — including loans and equity — to support growth and access to funding. Unlike a grant provider, it primarily offers finance you repay or in which it takes a stake, rather than non-repayable grants. It is a distinctive and valuable feature of the Welsh landscape, providing finance specifically focused on Welsh businesses.
Business Wales
Business Wales is the Welsh Government’s business support service, offering advice, guidance and signposting to funding and other help. It is the natural starting point for Welsh businesses seeking support, and can point you toward relevant grants — which in Wales are typically accessed through Business Wales, the Welsh Government and local authorities — as well as other assistance.
Devolved and UK-wide together
| Layer | Examples |
|---|---|
| Devolved (Wales) | Development Bank of Wales finance; Business Wales support; council grants. |
| UK-wide | The Growth Guarantee Scheme via accredited lenders; UK grant programmes. |
Eligible Welsh businesses can use UK-wide government-backed finance such as the Growth Guarantee Scheme through accredited lenders, alongside Welsh devolved support.
Who is eligible?
Eligibility varies by programme and may depend on your size, sector, location in Wales, and the project. Much support is aimed at established businesses investing and growing. Check each programme’s criteria, and engage with Business Wales to understand what fits your business.
Match funding and combining sources
Welsh grants often require match funding, covering only part of a project’s cost. A grant can fund part of a project, with finance from the Development Bank of Wales or a UK-wide government-backed facility covering the rest, subject to the rules of each and any subsidy limits. A coordinated package can fund ambitious projects affordably.
Welsh businesses can blend devolved finance from the Development Bank of Wales, grants via Business Wales, and UK-wide schemes — a flexible toolkit for funding growth.
Where to start
- Business Wales for advice and signposting to grants and support.
- The Development Bank of Wales for finance.
- Your local authority for area-specific funding.
- Accredited lenders for the Growth Guarantee Scheme.
The bottom line
Wales offers established businesses a rich, devolved funding landscape — finance from the Development Bank of Wales, support and grants via Business Wales and local authorities, and access to UK-wide schemes like the Growth Guarantee Scheme. Grants often require match funding and can combine with finance. Start with Business Wales and the Development Bank of Wales, check current programmes, and consider a coordinated package of grants and finance to fund your growth.
Frequently asked questions
What is the Development Bank of Wales?
The Development Bank of Wales is a Welsh Government-owned development bank that provides finance to businesses in Wales — including loans and equity — to support growth and access to funding. It is a distinctive feature of the Welsh funding landscape.
What is Business Wales?
Business Wales is the Welsh Government’s business support service, offering advice, guidance and signposting to funding and other help for businesses in Wales. It is a natural starting point for Welsh businesses seeking support.
What funding is available in Wales?
Welsh businesses can access devolved support including finance from the Development Bank of Wales, grants and support via Business Wales and local authorities, plus UK-wide schemes such as the Growth Guarantee Scheme. Availability changes, so check current sources.
Can Welsh businesses use the Growth Guarantee Scheme?
Yes. UK-wide government-backed schemes such as the Growth Guarantee Scheme are available to eligible businesses across the UK, including Wales, accessed through accredited lenders, alongside Welsh devolved support.
Does the Development Bank of Wales give grants?
The Development Bank of Wales primarily provides finance such as loans and equity rather than grants. Grants in Wales are typically accessed through Business Wales, the Welsh Government and local authorities. Check the nature of each opportunity.
Who is eligible for Welsh business funding?
Eligibility varies by programme and may depend on your size, sector, location in Wales, and the project. Much support is aimed at established businesses investing and growing. Check each programme’s criteria.
Do Welsh grants require match funding?
Often, yes. As with grants elsewhere, many cover part of a project’s cost, with the business funding the rest. Confirm the match-funding requirement before applying.
Where do I start looking for Welsh funding?
Business Wales and the Development Bank of Wales are the key Welsh starting points, alongside your local authority and the UK government’s business support finder for UK-wide opportunities.
Can I combine Welsh grants and finance?
Often yes. A grant can fund part of a project, with finance from the Development Bank of Wales or a UK-wide government-backed facility covering the rest, subject to the rules of each and any subsidy limits.
Is funding in Wales different from the rest of the UK?
Yes, partly. Because business support is devolved, Wales has its own bodies and programmes — notably the Development Bank of Wales and Business Wales — alongside UK-wide schemes. Welsh businesses can access both.
Are Welsh business grants taxable?
The tax treatment depends on the grant’s nature and purpose. Confirm with your accountant, as it affects the net value of the funding.
Can Business Wales help with my application?
Yes. Business Wales can advise and signpost, and help you find and pursue the right funding. Engaging early improves your chances and saves wasted effort.
How long does Welsh funding take?
Grants involve an application and assessment process, while finance from the Development Bank of Wales is arranged like other lending. Timelines vary, so plan ahead.
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