The North West Wales Local Investment Fund (LIF) is a new grant scheme for new and existing businesses seeking to make a capital investment in their company.
Denbighshire County Council is working in partnership with Conwy, Gwynedd and Anglesey Councils to deliver the programme.
The Deputy First Minister welcomed the scheme when he launched it recently at Anglesey airport.
Businesses can apply for funding between £1,000 and £5,000 for qualifying capital projects which will represent 40% of total eligible project costs.
The grants are available to Denbighshire-based businesses employing 250 people or less. Grants are available to assist the purchase of equipment and machinery and, in some cases, to enable companies to market themselves using the internet or quality promotional materials.
There are qualifying criteria and, initially, businesses can submit an expression of interest form to identify eligibility. If successful, they can then submit a full application.
Cllr David Thomas, Lead Cabinet Member for Economic Development and Regeneration, said, “I welcome this grants programme and believe it will be a major benefit to the local economy.”
The Local Investment Fund (LIF) is funded through the European Regional Development Fund Convergence Programme.
- There are exclusions within the criteria and sectors like Agriculture, Fisheries and Forestry are exempt and businesses need to prove that they are not operating within a sector that is well provided for within the county, as public sector grants cannot be used to enable growth that might be detrimental to other businesses within a similar sector.
- An underpinning Welsh Assembly Government business support scheme called ‘Flexible Support for Business’ is in place and will assist businesses to access other forms of support. It offers fast, simple and straightforward access to information, advice and support for all businesses via dedicated relationship managers who will support the business and help it access a tailored package of support.
