UKSPF project: Supporting Local Business
Project lead: Cadwyn Clwyd
Project overview
This project aims to boost productivity, pay, jobs and living standards by growing the private sector, especially in areas where they are lacking.
It will support two areas of delivery namely:
- Business grants for individual micro and small businesses – this strand will provide direct grants to businesses within the county.
- A 'Business Networks' key fund - This strand will facilitate and support local business and social enterprises to work collectively on developing initiatives which benefit the businesses and the local economy.
Project updates
March 2024
Significant strides have been made towards achieving key milestones since the grant scheme started, particularly in project organisation and engagement. Various tasks have been successfully completed, including the transfer of staff into new structures, recruitment of a Project Support Officer, the establishment of the Project Panel with agreed Terms of Reference, and the development of project marketing and engagement activities. The appointment of an evaluator and the commencement of the evaluation plan are helping to ensure project accountability and evaluation questions have been built into the claims stage.
Ongoing engagement activities, such as networking events and drop-in sessions, have effectively promoted project awareness and participation, laying a solid foundation for continued momentum throughout the funding period.
Support for grant applicants remains a priority, with the successful processing of grant claims and ongoing assessment and approvals. To date, over 120 businesses have started the grant application process, with over 88% of those going forward to full application. Twenty-three businesses have been approved at grant panel, with a further 10 due for decision on 27th Feb, with many more still in development for future grant panels.
The business collaboration element of the funding is also proceeding well with 2 currently being delivered, The Colomendy Industrial Estate Collective and the Town Square Space project, and a number of collaborations being developed further.
