The South East Wales Local Investment Fund is now available. 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 grant funding to assist businesses located or locating in the area.
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
- Marketing
- E Commerce
- ICT
- External & Internal Building works and alterations
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 if in any doubt please contact us to discuss although businesses in the retail sector and those providing a local service are excluded.
The Local Investment Fund can provide up to 40% of eligible expenditure up to a maximum of £5000 (minimum grant £1000).The applicant is required to provide a business plan with a minimum of one-year cashflow forecast and projected profit and loss (support to put this information together is available from the Welsh Assembly Government through Flexible Support for Business). Two years historic accounts (management accounts if over 6 months old) and two comparable quotes are also required. Other factors considered include: Jobs, investment by private sector, value for money, and demonstration for the need for grant.
For the latest information about funding contact the Advisory Services Team on 01443 866222 or email business@caerphilly.gov.uk.
