Grant Support
Economic Growth Fund
The Economic Growth Fund is a non-repayable grant aimed at providing short-term assistance to businesses in Wales.
The £15 million Economic Growth Fund is a short term, fast track fund for business, providing immediate access to capital funding for investments that will create and retain jobs. Grants are not repayable or restricted to any specific sectors. Any offers will be time limited to ensure that all grants are taken up and spent before the end of December 2012.
The Wales Economic Growth Fund will:
- stimulate economic growth by providing capital support to projects delivering job creation, retention and additional investment;
- create up to 1000 jobs and retain many others;
- assist more than 100 businesses across Wales;
- be delivered as quickly as possible to maximise the benefits to the Welsh economy in 2012.
Who can apply
The fund is available to applications from businesses in Wales. Applications are also welcome from overseas companies who are considering investing in Wales.
When to apply
The fund is a time-limited offer with applications invited between 12th December 2011 and 31st January 2012.
How to apply
Application forms and guidance can be requested in the following ways:
Phone: 03000 6 03000
Website: www.business.wales.gov.uk/growthfund
Wales SME Investment Fund - £40 million
Our new £40million Wales SME Investment Fund will complement the existing European-funded JEREMIE Fund. It will ensure that more SMEs, including those who sell their goods and services to consumers rather than businesses, are eligible for repayable capital investment from Finance Wales.
This Fund should be fully operational by March 2012. Again, more information and advice will be available closer to the time on 03000 603000, at www.business.wales.gov.uk or through your existing Welsh Government contact as above.
Powys Business Development Grant.
What will the Powys Business Development Grant fund?
The grant offers capital grant support to aid established businesses trading more than 12 months to purchase capital equipment.
Examples of eligible expenditure include:
- Marketing and material – i.e. signage, sign writing, display boards & uniforms.
- IT Equipment – Laptops, PC’s, printers, scanners
- Office Equipment – Desks, Filing cabinets, chairs
- Specialist Equipment – Trailers, heavy plant, specialist equipment
- Retail – Shop fittings, counters, display stands, lighting, mirrors, racking, flooring, tills & PDQ’s
All eligible equipment must have an individual value of no less than £50,00.
Examples of ineligible expenditure include:
- Commercial vehicles
- Building & ground works
- Purchasing of Property
- Telephone line installation
- Electrical Installations
- Leaflets, flyers, posters, letter heads, business cards
- Subscriptions
- Insurances
- Consumable items, i.e. stock
- Labour costs for work carried out
Applicants can receive advice from the Economic Regeneration Officer on what could be considered eligible but the final decision will be made by the grants panel. Expenditure or expenditure committed to the project prior to grant approval cannot be funded.
What is the rate of funding available?
The grant will fund up to 50% of eligible costs up to the maximum grant of £5,000. The remaining 50% or higher must be match funded by the applicant. The minimum grant awarded is £1,000. The percentage and amount awarded may be lower than requested, dependant upon the decision of the grants panel.
For more information please contact Cathy Ellis (Economic Regeneration Officer)
Telephone – 08701 923702
Email – cathy.ellis@powys.gov.uk
ProAct Skills Growth Wales
ProAct – Skills Growth Wales is a financial support package designed to help Welsh companies grow by funding high level or new technology skills training.
Funding is available to private or third sector businesses that are growing or have identified a clear growth opportunity and have the ability to take advantage of it. Companies that have received significant European funding over the past three years should contact us for advice as to whether they could be eligible.
An average of £3,000 per person to pay for high level and new technology training that will directly help to bring about growth – in turnover, profit and/or employment. It is designed to build on the success of ProAct and help reinvigorate the economy.
There is no wage subsidy connected with this, but we will extend the training support to new employees as the business grows, if you are not receiving help from other government sources. We will also try to guide you towards other recruitment support, such as our ReAct service, if appropriate.
For more information, contact our Skills.People.Success team on 0845 6066160
Or email: ProActTeamMailbox@wales.gsi.gov.uk
Redundancy Action Scheme (ReAct)
The Redundancy Action Scheme ( ReAct) is a programme of funding for training provided by the Welsh Assembly Government for people living in Wales who are facing redundancy. The scheme can also help Employers who are downsizing their business or are recruiting staff.
Support under the ReAct scheme is available for individuals who:
- have become unemployed in the last six months as a result of redundancy, are currently unemployed, and who have not been in continuous employment for 6 weeks or more since being made redundant; or
- are currently under notice of redundancy; and
- have not undertaken any publicly funded training since being made redundant, including the work-based learning suite of programmes.
There are 3 elements to ReAct:
- Recruitment & Training Support
- Discretionary Award - Vocational Training
- Discretionary Award - Miscellaneous.
Support is available for eligible applicants to increase their skills and remove barriers to learning, or returning to work. In order to ensure that this training provides the best possible chance of finding new employment, all applicants will need to have their training needs assessed by Careers Wales. Careers Wales will also advise on suitable training courses and training venues. Under this part of the scheme the following financial support is available:
- 100 per cent of training costs to acquire new skills (up to a maximum of £2,500)
- help with the cost of special equipment required for training
- reimbursement of travel costs to training courses
- overnight accommodation costs, where appropriate
- a contribution towards the cost of materials required for training
- reimbursement of childcare costs (subject to limits and conditions).
You can get more information on ReAct from the ReAct Team in Swansea, from your local Careers Wales office or from Learning and Careers Advice on 0800 100 900.
In a broadband notspot?
If you don’t already have broadband or you consistently get a broadband speed of less than 512Kbps, you live in a broadband notspot.
A broadband notspot usually occurs as a result of the distance a person lives from a local telephone exchange – the further away, the weaker the signal.
Becoming digitally active means that people lead fuller and more active lives, and businesses are able to expand and compete more effectively. We are committed to enabling communities with the greatest need.
Providing support to individuals and businesses.
The Broadband Support Scheme provides support funding for the purchase of a broadband solution to supply a minimum speed service of 512Kbps to individuals, businesses, third sector organisations and communities. Support will be available up to the amount of £1,000.
To qualify for the scheme you must be unable to receive broadband or have broadband with a download speed consistently under 512Kbps.
Local Investment Fund
South West Wales
This fund provides capital grants to local small and medium sized enterprises, which include start ups, existing businesses and social enterprises. All applications are subject to certain criteria and will be considered on a case by case basis.
Capital grants are available in Cerdigion, Swansea, Carmarthenshire, Pembrokeshire, and Neath Port Talbot for up to 40% of eligible project costs, with a minimum grant of £1,000 and a maximum grant of £10,000.
If you feel your business would benefit from a grant then you can obtain further information on the financial support available from Michelle Davies, Grant Assessor or complete an Expression of Interest Form via www.lifcymru.org.uk
Tel: 01267 242389 / 07827 355013
11 Baker Street, Aberystwyth SY23 2BJ
e-mail: MichelleEDavies@carmarthenshire.gov.uk
SEVERN VALLEY BUILD HERITAGE FUND
What is the Build Heritage Fund?
Severn Valley Build Heritage Fund has been set up to provide funding to upgrade the appearance of the buildings in the Severn Valley.
The main objective is to improve the external fabric of business and commercial properties of heritage interest within the scheme boundary. It is considered that such improvements will support new and existing businesses, enhancing the vitality and viability of the Severn Valley by encouraging inward investment and stimulating prosperity.
Level of funding available:
Funding is available for up to 70% of the total cost of approved works to successful applicants. The maximum amount of funding available will depend on the number of applications received and the type of work proposed. Offer of funding is at the sole discretion of Powys County Council.
Which properties are eligible?
Any properties with an existing or proposed business or commercial use within a designated area are eligible for funding assistance.
How do I apply?
At the commencement of the scheme Powys County Council will see expressions of interest from owners of eligible properties. Such expressions of interest will need to be submitted on Expression of Interest Forms available from the Council.
For full information go to the Powys County Council Built Heritage Team at: www.gov.uk/heritage
or E-mail: built-heritage@powys.gov.uk
Telephone: 01597 827288
