Friday, 11 September 2009

LIF Grant lifts local businesses

Businesses within the Caerphilly county borough can now access an exciting new funding scheme, with the first firms to benefit already reaping the rewards.

The Local Investment Fund is a new scheme that has been made available to 15 local authorities across the West Wales and the Valleys or Convergence region, including 5 local authorities in South East Wales. They have been awarded EU Funding through the European Regional Development Fund (ERDF), delivered through the Welsh Assembly Government, to provide grant funding to assist businesses within their areas.

Three of the firms in the Caerphilly county borough who have so far successfully applied for the grant to date are:

  • Meridian Blinds & Curtains, based at a shop in Maesycwmmer and a council-owned business unit in Pontllanfraith, has been awarded a grant to purchase new cutting equipment. The investment has already increased business efficiency, helped reduced waste and is slashing manufacturing time.
  • Pole Optical – a Bargoed based firm that manufactures optical lenses for their own opticians shop (Bargoed Site Centre) and for other opticians. The funding helped towards the purchase of a specialist machine to cut lenses using the latest optical technology.
  • ON Davies - a Newbridge joinery manufacturer that has been awarded funding towards the cost of purchasing a spindle moulding machine and tooling system.

"The diversity of these ventures clearly demonstrate that the Local Investment Fund is an accessible funding stream that can benefit businesses of all shapes and sizes," said Cllr Ron Davies, CCBC cabinet member for regeneration. "The council is delighted to offer this funding, along with the package of support and advice currently available from our dedicated team and I would appeal to local businesses to get in touch to see if we can help."

Businesses or business start-ups that are investing in any of the following to expand or start their business may be eligible to apply for a Local Investment Fund Grant:
  • Capital Equipment
  • E-Commerce
  • External & Internal Building works and alterations
  • ICT
  • Marketing
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.

For more information call 01443 866222 or email the Business Development Team.



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