Funding Available
Local Investment Fund
The Local Investment Fund South East Wales provides financial support to help eligible local businesses.
LIF Cymru South East Wales is a flexible grant scheme delivered through a partnership across Torfaen.
The project has been developed with support from the Welsh Assembly Government through the European Regional Development Fund, under the Convergence Programme.
Designed to complement the Welsh Assembly Government’s Single Investment Fund, LIF provides financial support to help eligible local businesses realise their ambitions to develop and grow, by supporting investment in capital projects.
Is my business eligible?
The LIF fund is specifically designed to support a range of Small and Medium Size Enterprises (SMEs). The grant is aimed primarily at manufacturing businesses but other sectors can be considered.
Applicants will need to demonstrate that a significant proportion of their activity is business to business (75% or over), and that they have the ability to ‘add value’ or offer net benefits to the local economy (e.g. through the creation of new jobs).
What support is available?
Grants from £1,000 to £5,000 are available, based on 40% of the
eligible project costs. Eligible capital projects could include:
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Capital equipment
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ICT equipment
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Development of websites
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Marketing materials
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External and internal building works and alterations
Expenditure incurred before grant approval is not eligible for funding.
Heads of the Valleys Business Seed Capital Fund Grant
This flexible grant scheme delivered through a partnership across the Local Authorities of Blaenau Gwent, Caerphilly, Merthyr Tydfil, Rhondda Cynon Taff and Torfaen is designed to help a first time business set up for the in the Heads of the Valleys area, who are not able to access any other sources of funding.
Is my business eligible?
Business start ups in all business sectors maybe considered (excl.retail).
The business must be started in the Heads of the Valleys area.
At least one of the owners or directors must be employed full time in the business
What support is available?
Grants of up to 50% of eligible project costs, to a maximum of £2,000. Eligible costs could include:
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Capital Equipment
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ICT Equipment
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Development of websites
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Marketing
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Building works to business premises
Expenditure incurred before grant approval is not eligible for funding. Award of Grant is entirely at the discretion of Torfaen County Borough Council.
Proof of expenditure will be required for all items claimed for and a business bank account must be in place. Other terms and conditions apply.
Where do I get more information?
If your business is in Torfaen please contact the Business Support Team on 01633 648371 or email: info@torfaenbusiness.co.uk|