Business growth fund
The Business Fund is currently fully committed, so is therefore not available for application at this stage. We aim to source additional funding to replenish the pot, so we are welcoming expressions of interest for which we will place on a reserve list. See details of the fund and expression of interest form below
The business growth fund aims to support local businesses and inward investors to grow and prosper, resulting directly in the creation of jobs throughout the County, thus improving the local economy. The Fund is a third party grant scheme, which will include support towards capital expenditure projects and specialist revenue expenditure, where new jobs are created as a result of the support.
What is on offer?
- Grants available between £1000 and £10,000.
- Each grant award will be based on 50% of eligible costs OR a maximum of £5000 per job created whichever is the lesser. (At least one new job must be created in order to access the fund)
- The minimum grant award is £1000 (based on at least one new job created) and the maximum grant award per business is £10,000 (based on at least 2 jobs being created)
The fund is only available to new or existing businesses within the eligible sectors that are located in or planning to locate within Carmarthenshire. Support is aimed primarily at existing businesses to be operating in or servicing the following growth and foundation sectors:
- Advanced Materials and Manufacturing;
- Creative Industries;
- Energy and Environment;
- Finance and Professional Services;
- Information Technology and Telecoms;
- Life Sciences;
- Food & Drink;
The following sectors however are ineligible for support:
- Primary agriculture production
- Statutory services, e.g. health and education.
Applications will however be considered on a case by case basis subject to their potential contribution and value to the local economy, e.g. creation of jobs in town centres, rural areas, link to key strategic projects, such Yr Egin and Llanelli Life Science and Well-being Village.
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