Businesses in the Gwendraeth Valley have won grants worth almost £30,000 thanks to the South West Wales Local Investment Fund (LIF).
Six companies have already been successful in gaining funding from the new scheme, which is aimed at helping small and medium sized companies in south west Wales.
They include Cross Hands companies Shufflebottom Ltd, Govinda’s, Dyfed Menswear, Logic One Automation and Morgan and Morgan Ltd; Ferryside’s Three Rivers Hotel and Spa, and Broadleaf Timber of Llandybie.
The LIF grants have enabled the companies to grow at a time when most are experiencing tough times due to the recession.
John Cavill, joint proprietor of the Three Rivers Hotel and Spa, said: “This grant has enabled us to generate extra business as it went towards the conversion of a cart shed in to tourist accommodation.
“We have a good relationship with our business development officer, and she told us about the scheme and that we may be eligible for a grant, so we applied.”
The South Wales Local Investment Fund aims to increase the number of firms in the region, and offer better support to existing companies.
Grants of up to £5,000 are being offered as part of the project, with equipment, premises improvement, one-off marketing costs, website development and specialist software all eligible.
Over the next six years, 1,000 jobs are expected to be created, 1,400 companies supported and 400 new enterprises set up.
Carmarthenshire is leading the project in partnership with neighbouring authorities in Swansea, Pembrokeshire, Ceredigion, and Neath Port Talbot, along with the West Wales Chamber of Commerce.
The £19.3 million scheme has received £8.9million of European Convergance funding.
Simon Richards, business services manager, said: “This investment is helping to strengthen the economic base of this region by creating jobs, improving business competitiveness and by bringing increased prosperity to the region.”
Carmarthenshire’s executive board member for regeneration, Cllr Clive Scourfield, added: “It is wonderful that companies can access this funding to help their businesses grow. In these times of economic difficulty, we must do everything we can to support small and medium sized businesses.”
For further information about the grants, please call the Local Investment Fund Team on 01267 242391, or email [email protected]
