28/7/2009

A new fund has been launched aimed at helping business growth in Gwynedd.

The North West Wales Local Investment Fund (LIF) will provide grant funding of up to £5,000 to help small and medium size businesses (SMEs) within the region.

The LIF will be delivered through a partnership across the local authorities of Gwynedd, Anglesey, Conwy and Denbighshire. The European Convergence funded project provides financial support to businesses to invest in capital projects.

The LIF provides grant support ranging from £1,000 to £5,000, based on 40% of the project costs. Eligible capital projects could include: Capital equipment including IC equipment, Development of websites
External and internal building works and alterations
Gwynedd Council Leader, Councillor Dyfed Edwards, welcomed the introduction of the Local Investment Fund.

He said: “The LIF is a welcome and much needed boost for small to medium sized businesses, especially given the present economic climate. This funding will help businesses help themselves, offering grants which will support growth through improving infrastructure and providing state of the art equipment.

“The project is also a shining example of how four Local Authorities can work together to deliver benefits for their local communities.�

Businesses applying for LIF are assessed against the contribution they make to the local economy such as creating new jobs and developing key sectors.

If you own or run an SME in Gwynedd and would like more information about the Local Investment Fund, please contact the Business Development team on 01286 679231 or email robertselwynwilliams@gwynedd.gov.uk