Business growth fund

Page updated on: 02/12/2019

Coronavirus (COVID-19)

In response to the COVID-19 emergency a number of schemes have been launched to provide financial support to assist charities and community / voluntary groups to continue to deliver services and provide much needed support in their communities. Funding is also available to businesses and organisations that have been adversely affected by COVID-19.

We recommend you also visit our business support page and the Business Wales website.

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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)

Eligibility

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;
  • Construction;
  • Creative Industries;
  • Energy and Environment;
  • Finance and Professional Services;
  • Information Technology and Telecoms;
  • Life Sciences;
  • Food & Drink;
  • Tourism
  • Retail
  • Care

The following sectors however are ineligible for support:

  • Primary agriculture production
  • Forestry
  • Aquaculture
  • Fishing
  • 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.

Download a copy of the guidelines Expression of interest