|Printable version||E-mail this to a friend|
New Growth and Prosperity Fund launches this week to support jobs and business growth
The Welsh Government’s new £5m Growth and Prosperity Fund formally launches this week to provide a business boost to support jobs and growth in companies across Wales.
The Fund, part of a 10 point Business Confidence Plan announced by First Minister Carwyn Jones, is split into two tranches with £2m allocated for smaller projects with grants ranging from £5,000 to £25,000 and £3m allocated for larger capital investment projects with grants ranging from £50,000 up to £500,000.
Both funds formally launch today, with applications for the small fund open until January 2017 while expressions of interest for the larger fund will be accepted up to 17 October 2016 when projects representing the best value for money will be invited to apply for funding.
Cabinet Secretary Ken Skates said:
“Our priority is creating and protecting jobs and supporting business growth and we are doing everything in our power to maintain economic confidence – this means building a strong and competitive business environment in Wales that can support future growth.
“The Fund is one of a number of proactive confidence building measures we have launched to help businesses across Wales invest in projects that will create and safeguard jobs and support the growth of the economy.
“The Fund is open to all SME businesses in Wales and the main aim is to create and safeguard jobs. Priority will be given to businesses looking to export and to companies creating high value jobs paying above the Welsh national average wage.”
The small fund is currently accepting applications and is anticipated to support around 200 businesses with the potential to create and safeguard between 800- 1200 jobs within the 2016-17 financial year.
Businesses applying for the larger discretionary fund will need to show they will be able to raise the majority of funding from the private sector and projects will need to be completed by March 2018.
More information can be accessed via the Business Wales Helpline team on 03000 6 03000 or via www.businesswales.gov.wales.
Latest News from
Young Farmers show support to landmark health study25/07/2017 16:05:00
Welsh Young Farmers joined the Chief Medical Officer for Wales at the Royal Welsh Show today to announce their commitment to help shape the future health of the nation by participating in the largest Welsh population health study ever undertaken.
Ultrafast Fibre for Royal Welsh Young Farmers25/07/2017 12:05:00
Young farmers at this year’s Royal Welsh can keep in touch at ultrafast speeds and keep up to date with what’s happening at the show, thanks to Superfast Cymru.
New £4.2m EU-backed veterinary facility at Aberystwyth25/07/2017 10:05:00
Plans for a £4.2m state-of-the-art veterinary hub to drive forward research to protect both animal and human health were announced by the Cabinet Secretary for Environment and Rural Affairs, Lesley Griffiths yesterday.
“UK Government’s EU Withdrawal Bill could put us back decades” - warns Cabinet Secretary25/07/2017 08:05:00
As Europe’s largest agriculture show got underway in Builth Wells yesterday, the Welsh Government Cabinet Secretary for Environment and Rural Affairs, Lesley Griffiths, has warned the UK Withdrawal Bill has the potential to put the Welsh food and farming industry back decades.
Ken Skates demands £700m from UK Government for scrapping electrification across South Wales24/07/2017 14:05:00
The Welsh Government is demanding the estimated £700m saved by the UK Government by scrapping of the long-awaited Main Line electrification in South Wales be reinvested for future rail projects in Wales.