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Business News Wales

Creative Wales Announces New Round of Music Capital Fund

Creative Wales – the Welsh Government agency that supports and promotes the creative industries in Wales – has announced a new round of its Music Capital Fund. The fund, worth more than £500,000, welcomes applications from small and medium-sized music businesses for grants of between £10,000 to £40,000. The aim is for these businesses to identify areas of their establishment and operations in need of capital investment and then put the funding towards improving and increasing the businesses' commercial outlook and sustainability, in turn benefiting the music industry in Wales. Last year 17 music businesses received over £715,000 in grant funding, including CELLB in Blaenau Ffestiniog; Y Saith Seren in Wrexham, The Bank Vault in Aberystwyth and Porter's in Cardiff. They then used the funding to upgrade and improve their spaces, extend premises and, in many cases, improve accessibility. Independent Cardiff venue Porter's used their funding on a project to convert an old nightclub into new premises when they had to vacate their previous location in late 2023. Works at the new venue included acoustic insulation, a new lobby with fire exits and an accessible toilet to ensure the new premises were fully compliant with regulations and open to the widest audience possible. The Bank Vault in Aberystwyth used their funding towards much needed construction costs. Zac Marsden, owner of the venue, said: 'The grant funding given to us via the Music Capital Fund proved vital to us. Creative Wales' support helped us to make improvements to the venue which helped improve its long-term viability as both a business, and as importantly, an independent music venue in Aberystwyth that brings people together and gives artists a vital platform.' Applications to the fund are open until midday on 26th June. For more information about the fund and the other support given to the creative sectors in Wales, visit here .