Rhyl Entrepreneurs Given Funding Boost

by Jamie Adrankone

Rhyl Entrepreneurs Given Funding Boost

Aspiring businesses in Rhyl could be given extra help to launch themselves by applying for a government grant.

In June this year, the Welsh government launched the Town Centre Entrepreneurship Fund to provide loans and finances for entrepreneurs in the north Wales town.

The initiative, which has also been offered to businesses in Colwyn Bay, Bangor and Wrexham, is intended to help those town centres that have been “severely impacted by the coronavirus pandemic”, according to David apJohn-Williams, national contracts manager for Business Wales.

Speaking with Rhyl Journal, Mr John-Williams said: “This offers local entrepreneurs exciting opportunities to be innovative and make use of the space that has become available.”

The £3 million fund is aimed at boosting town centres following several lockdowns, which impacted the Welsh economy and many retailers significantly.

It is hoped that while big brands are no longer commonplace on the high street, this finance will go towards helping start-ups get off the ground and “local companies and small business [could] become the heartbeat of our towns”.

Businesses have been encouraged to apply for grants of between £2,500 and £10,000 to relocate to a town centre. Alternatively, they can submit an application for a loan of up to £50,000 by the Development Bank of Wales.

To be eligible for the money, entrepreneurs must prove they have been trading for less than two years and can provide a 12-month busines plan, the success of which relies on having a town centre location.

Wales implemented some of the strictest lockdowns in the UK, with all areas of the country having had to implement social distancing restrictions periodically since March 2020.

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