Farm businesses in Wales can claim up to £150,000 in grant support under a new scheme designed to support farmers who want to add value by processing their own products.

The Food Business Investment Scheme, which offers grants to people wanting to start producing products including cheese, flour, yoghurt, ready meals, animal feed and pet food products, is now open for Expressions of Interest (EOIs).

A key condition is that where a mix of ingredients is used to produce a product, at least 90 per cent must be eligible agricultural products sourced from within the EU.

It is expected that there will be significant demand and applications will be judged on a competitive basis. The government has already indicated that it only expects to ask for about 30 full applications.

The level of grant awarded is based on the product being made and the size of the enterprise, but ranges between 20 per cent and 40 per cent of total investment costs, with a maximum value of £150,000.

The money can be used to pay for tangible assets such as land, buildings, machinery and equipment along with intangible assets such as computer software, patent rights, licences and consultancy fees.

Grants can also be used to improve and develop existing processing facilities.

The application process is in two stages with applicants first completing the EOI, with the closing date of September 19 2017. If this is successful they will be invited to submit a full application.

The Micro Small Business Fund (MSBF) is also available in Wales, offering grant support for small businesses investing in the tourism sector.

Support of between £25,000 and £500,000 will be considered for projects delivering high quality, luxury accommodation in a way that helps to help build areas as destinations for visitors.

This could be hotels, bed and breakfasts, camping and caravanning sites who are targeting a four- or five-star quality rating.