A quick update on the Local Growth Fund.
Grant funding is on its way. Each local authority will receive its own pot and shape it around what their area needs most. For many, that’s likely to focus on capital investment for existing businesses. There wil be other pots for property, start up etc.
It’s worth keeping expectations realistic. Full funding is unlikely, think closer to 50%. So before anything else, take a moment to ask yourself whether the project is affordable on that basis.
There are a few simple things you can do now to put yourself in a stronger position:
review your business plan, get clear on what you want to invest in, and start gathering quotations.
Carmarthenshire is expected to open on 8 May, with others following mid-May. Dates may move slightly depending on the election.
Keep an eye on the app for updates in your area.