Shared Prosperity Fund grants available to support businesses

Businesses across Bridgend County Borough are now able to apply for support to diversify, decarbonise and grow as part of the Bridgend Business Development and Business Feasibility Grant schemes.

These schemes are funded by the UK Government’s Shared Prosperity Fund, with Bridgend County Borough Council being awarded £19m plus a further £3.9m to help improve skills for all businesses.

The Fund aims to improve pride in place and increase life chances across the UK investing in communities and place, supporting local business, and people and skills.

Business Development Grant

The Business Development Grant will support Small and Medium-Sized Enterprises and provides 50% of eligible capital projects costs. The minimum grant is £5,000 and the maximum grant available is £25,000 (excluding VAT).

Business Feasibility Grant

The Business Feasibility Grant is to support businesses to explore feasibility of longer-term options to diversify, decarbonise and grow and provides 100% of eligible revenue projects costs. The minimum grant is £5,000 and the maximum grant available is £25,000 (excluding VAT).

• Funds are available to businesses who meet the following criteria:
• A Sole traders, Partnerships, Limited Companies, Co-operatives and Limited Liability Partnerships, Registered Social Enterprise or Charity are eligible to apply.
• Has an operating turnover in last 3 years above the VAT threshold (£85,000)
• An established business that has been trading more than 3 years
• A Bridgend County Borough business address
• An SME (less than 250 employees and an annual turnover under €50 million)

If you are unsure of your eligibility or would like to find out more information please contact businessfunds@bridgend.gov.uk.