Starting a Business in Powys

Thinking of starting your own business in Powys? We're here to help you take the first steps with confidence. Whether you're developing a new idea or turning a passion into a profession, Powys County Council and our partners offer a range of support to guide you through the process.

Step-by-Step Guide to Starting a Business

1. Develop your business idea

• Begin with thorough market research to understand your customers and competitors.
• Market Research | Business Wales
• Consider what makes your business unique and how it will meet local or wider demand.
• Developing your business idea | Business Wales

2. Create a Business Plan

• A business plan sets out your goals, strategy, and financial forecasts.
• It's essential for securing funding and staying on track.
• Need help? Contact Business Wales (Tel: 03000 6 03000) for support with planning.

3. Secure funding

• Ensure you have enough capital to cover start-up costs and living expenses.
• Explore funding options such as:
• Personal savings
• Bank loans or overdrafts

The Development Bank of Wales provides financial support and resources to businesses in Wales. It offers a range of services, including business loans, equity finance, and research data on the Welsh economy. The bank supports businesses at various stages, from start-ups to established companies, with flexible finance options such as micro loans and larger funding packages. Additionally, it promotes sustainable growth through the Green Business Loan Scheme and offers tailored support for property development and tech ventures. The bank is backed by the Welsh Government and aims to fuel possibilities for people, businesses, and communities in Wales.

• Grants (e.g. The Prince's Trust)
• Support from Business Wales via their Finance Locator resource

4. Register your business

• Choose a legal structure: sole trader, partnership, or limited company.
• Register with HMRC or Companies House, depending on your structure.
• Register with Business Wales in order to receive the full range of support

5. Licences and Permits

• Depending on your business type, you may need specific licences or permissions.
• Contact us if you're unsure what applies to your business.

6. Get business insurance

• Protect your business with the right insurance, such as public liability or employer's liability.

7. Set up your business location

• Whether you're working from home, opening a shop, or trading online, make sure your premises meet legal and safety requirements.

8. Promote your business

• Develop a marketing plan to reach your audience.
• Consider digital marketing, local advertising, and networking opportunities.

9. Local support available

• Business Wales: Offers free advice, workshops, and funding guidance.
• Antur Cymru Enterprise: Provides one-to-one support, training, and access to test-trading spaces for new businesses in Powys 
• Powys Council Business Support: We can help signpost you to the right services and funding opportunities.

Need Help? 

Contact our Economic Development team at economicdevelopment@powys.gov.uk