Caerphilly County Borough Council along with 5 other Local Authorities in South East Wales have been awarded Convergence funding through the European Regional Development Fund (ERDF) to provide funding to assist businesses located in or locating to the area.
Who is entitled to apply?
Businesses or business start-ups that are investing in any of the following to expand or start their business may be eligible to apply:
- Capital Equipment (second hand is eligible subject to conditions)
- E Commerce and ICT
- External and Internal Building works and alterations and resource efficiency
- Resource efficiency
The business must be a SME's (under 250 employees) in the manufacturing,service to manufacturing, business-to-business service sector (minimum75% business to business) or tourism. In certain circumstances other businesses may qualify so please contact us to discuss. Businesses in the retail sector and those providing a local service are excluded.
What is the level of funding available?
The Local Investment Fund can provide up to 40% of eligible expenditure up to a maximum of £10,000 (minimum £1,000). Other factors considered include: Potential job creation, investment by private sector, value for money, equalities, environmental management systems and demonstration for the need for funding.
How to apply
The applicant must provide a business plan with a minimum of one-year cash flow forecast and projected profit and loss. Two years historic accounts (management accounts if over 6 months old). Two comparable quotes for each capital item to bepurchased are also required.
Other factors considered include:
Potential job creation, investment by private sector, value for money, equalities, environmental management systems and demonstration for the need for funding. No expenditure should be incurred before funding approval, as the funds cannot beawarded retrospectively.
Contact Business Enterprise Support on 01443 866222 or email email@example.com.
How often are applications considered?
Applications are continuously assessed by the Business Enterprise Support Team.