New grants available for local businesses

Businesses in the Welshpool area with plans to expand, or secure their future in challenging times, could be eligible for a Growth Grant from the county council.

Sums of between £1,000 and £25,000 are available after a total of nearly £1.1 million was secured by the council from the UK Government, via the Shared Prosperity Fund.

This money, which can also be claimed by businesses looking to move to Powys, will be available until it has been fully allocated. 

A total of £143,000 was allocated during the first window, in November and December last year, and because it proved so popular the council has applied for more funding to boost the pot for the second window to £950,000.

“These grants are being delivered as part of our ongoing commitment to support economic development during difficult times,” said Cllr David Selby, Cabinet Member for a More Prosperous Powys: “(And) as part of our wider aim of creating a stronger, fairer and greener Powys.

“We want to help businesses in the county, and those that want to move here, at all stages of development to sustain, grow and innovate, including through local networks.”

Each grant award will be based on 50% of eligible project costs or a maximum of £5,000 per job created and/or £5,000 per job safeguarded, whichever is the lesser. At least one new job must be created and/or one full time equivalent job safeguarded, to access the grant.

Firms can submit an expression of interest for a Powys Business Growth Grant now.

The money can be used to help fund capital schemes and one-off revenue projects but cannot be used to cover usual running costs.

The support is aimed primarily at the following sectors:

• Advanced Materials and Manufacturing
• Construction
• Creative Industries
• Energy and Environment
• Finance and Professional Services
• Information, Technology and Telecoms
• Life Sciences
• Food and Drink
• Tourism
• Retail
• Care

Applications from other sectors, except for farming, fishing, forestry and statutory services, will be considered, based on their value to the local economy.

Ideally, the people being given jobs, or kept in existing jobs, will be paid the Real Living Wage.

Businesses taking part will also be asked to show their commitment to sustainable development and sign up to the Welsh Government’s Green Growth Pledge.

For more information visit the Powys County Council website.

Or email: economicdevelopment@powys.gov.uk