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Study highlights impact of rising staff costs for convenience retailers.

3 Apr 2024

Research by the University of Stirling and the Scottish Grocers’ Federation has shed light on the impact of rising staff costs on the convenience retail sector in Scotland.
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Independent department stores hitting a sweet spot on local high streets.

3 Apr 2024

With large national chains increasingly disappearing from the high street, Drapers magazine has been looking at how independent department stores are stepping up their offerings to... Read more…

Entries open for 2024 Baking Industry Awards

2 Apr 2024

The Baking Industry Awards return for their 37th year and are once again ready to recognise and reward the very best people, products, and businesses in the sector. The awards showcase the... Read more…

Family-owned cycle shop celebrates 90 years trading in Walsall.

2 Apr 2024

Walsall's cycling community has been celebrating a family-owned business which celebrates its 90th anniversary this year.
 
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Payment-processing outages at UK retailers raise reliability issues for cashless transactions.

2 Apr 2024

Recent payment disruptions at supermarkets and fast-food outlets have raised questions on the need for improved reliability.
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North Yorkshire cycle hub up for top tourism award

22 Mar 2024

Rob Brown, co-director of Dalby Forest Cycle Hub, a not-for-profit hire scheme has been nominated for the Tourism Superstar 2024 award, run by VisitEngland.
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Independent retail bodies welcome new report aimed at tackling retail crime.

21 Mar 2024

ACS (The Association of Convenience Stores) and the Federation of Independent Retailers (The Fed) have both welcomed a new report published by the Association of Police and Crime... Read more…

Indie retailers outperformed supermarkets in sales of organic food, wellness and beauty products in 2023.

21 Mar 2024

As reported by Healthstores UK, new data contained in the 2024 Soil Association Organic Market report shows that independent retailers delivered an impressive 10% growth in 2023, with... Read more…

Cheltenham beer shop and bar wins top UK award.

21 Mar 2024

An independent bottle shop and bar in Cheltenham has been named as the UK's Independent Beer and Wine Retailer of the Year 2024 at the Drinks Retailing Awards. 
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Welsh Government Announce £20m Future Proofing Fund for Retail Businesses in Wales

21 Mar 2024

A number of organisations, including Bira (the British Independent Retailers’ Association), other trade associations, BIDs and unions have met with officials from the Welsh Government to... Read more…

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Welsh Government Announce £20m Future Proofing Fund for Retail Businesses in Wales

Posted on in Business News

A number of organisations, including Bira (the British Independent Retailers’ Association), other trade associations, BIDs and unions have met with officials from the Welsh Government to discuss the coming availability of a £20m Future Proofing Fund to help businesses to strengthen their profitability through investment in their business.

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Available to retail, hospitality and leisure sectors, grants of between £5,000 and £10,000 will be awarded to cover up to 75% of project costs or £10,000, whichever is the lesser amount and it is expected that businesses will fund the remaining 25% from other sources.

The fund will be available for eligible businesses in Wales, either headquartered or having an operating address in Wales, who employ people in Wales.

In a recent press release from Gov.wales, Economy Minister Vaughan Gething said:

“The ongoing cost-of-living and cost-of-doing-business crises continues to present difficulties to businesses across Wales.

These grants will help micro, small and medium sized businesses from the retail, hospitality and leisure sectors to make some significant changes in the way they run their operations so they can adapt for the future.”

The final details and criteria of the funding are being agreed at this moment and we will share complete details as soon as we see them.

There will be an eligibility checker opened on the Gov.wales website in mid-April 2024 and applications will open in May 2024.

It's important to note that the application window will remain open for just 3 weeks or until the fund has been exhausted.   It will therefore be vital that businesses act quickly to work out projects and to collate the necessary evidence and data required, ready for the application window in May.

Our understanding is that projects will be assessed towards the end of Spring 24, and successful businesses will be announced around August 2024.

Any funded projects must be delivered and claimed for by the end of the financial year.

“This £20m fund is a great opportunity for businesses in Wales, but it’s important to note that it will only extend to 2,000, maybe 2,500 businesses, so it’s imperative that you keep a close eye on the timeframes involved and act quickly once the eligibility checker and the subsequent application window opens up.” said John Halliday, Bira’s Director of Marketing.

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