The Economic Development Unit at Bridgend County Borough Council has issued a total of £100,000 of financial support to businesses in the County Borough of Bridgend, through the South East Wales Local Investment Fund.
The fund which supports capital investments was launched in May last year and is aimed at supporting small and medium sized enterprises (SMEs) across six local authority areas in the South East Wales region including Bridgend. One year on from the introduction of the scheme, a total of 58 businesses in the Bridgend area have been supported.
Councillor David Sage, Deputy Leader of Bridgend County Borough Council commented: “It is extremely encouraging to see such high levels of interest in the Local Investment Fund scheme. Bridgend has been performing exceptionally well, which indicates very positive signs for the future development of the local economy.”
Designed to complement the Welsh Assembly Government’s Single Investment Fund the South East Wales Local Investment Fund can provide grants of between £1,000 and £5,000, and are based on up to 40 per cent of reasonable eligible project costs.
Bridgend-based United Graphic Design secured a grant through the Local Investment Fund for the purchase of a new Apple Mac computer and the latest design software.
UGD Partner, Anthony Williams said: “We were really pleased to receive this funding through the council’s grant scheme. It has enabled us to improve the quality of design and digital print for our clients and has also enabled us to take on a full time member of staff.
“The grant application process was very straight forward and we received notification of acceptance within a couple of weeks. When you operate in a highly competitive market, where technology changes at a rapid pace, funding such as this is crucial in helping you maintain clients and win new contracts.”
If you would like to know more about the funding and if your business is eligible, please contact us at the Economic Development Unit, where one of our officers would be pleased to help. Call 01656 815315, e-mail [email protected]
