Thanks to funding secured by the Swindon and Wiltshire Local Enterprise Partnership, even more local businesses will benefit from grants to help them grow.
An expert panel considered applications from small and medium sized businesses from Swindon and Wiltshire for the second round of Gateway for Growth grants The grants are designed to help businesses with growth projects, to help them reach their commercial potential.
Eleven businesses were awarded a total of £348,000 grant funding. The funding is expected to drive revenue growth of over £10M into the local economy and create up to 85 new jobs.
Grants Panel Chair and SWLEP Board member, James Phipps, said: “We received a fantastic response for this second round of grant funding and the quality of applications remains high. A common theme amongst applicants was a desire to extend their markets overseas. We are delighted that these grants will help to show the world the business potential that lies within Swindon and Wiltshire.”
Swindon-based business Tetronics Internationa will be extending their global reach as a result of their successful grant application. The business was awarded a grant of £50K to help establish a permanent presence in China for their environmental solutions for resource recovery and hazardous material treatment. A sales growth of 20% over the next 2 years is anticipated, along with the creation of 11 new jobs in Swindon.
Chippenham-based RTS Group also plan to develop overseas opportunities for their learning and development services within the automotive sector. Their application for grant funding to develop their business was successful to the tune of £50K, including projects to upgrade their systems and develop overseas opportunities.
A grant for Leafield Environmental Ltd will help the Corsham-based manufacturers bring a new product range to market. They were awarded £50K to expand their product line to include hard-wearing mobile storage cases.
Rob Perks, CEO at Wessex Chambers who lead on the delivery of the project said: “It’s great to see the Wiltshire Business Hub fully up and running and delivering real, tangible value to businesses across Swindon and Wiltshire. The project is enabling businesses that might otherwise be unable to commence new initiatives, to break through barriers and go on to even greater success.”
EIN-SW member Westcut Engineering Ltd were also successful with their grant application.
Other successful grant applicants include Aerian Studios Ltd, Clear Vision Accountancy Ltd, DL Windows, Leafield Logistics & Technical Services Ltd, Saphire Group, Valldata Services Ltd, and Wiltshire Heavy Buildings Materials Ltd.
Funded by the Regional Growth Fund with support from Lancaster University, there will be further opportunities for businesses to apply, with the next Grant Panel taking place in July. Small and medium sized businesses with at least 10 employees and turnover of at least £500k can apply for grants from £5k to £50k.
Isobel Brown, Director at the Swindon and Wiltshire LEP, said: “It’s fantastic to see that funding secured by the SWLEP is continuing to support businesses in the area to grow. In addition to the grants, the programme has dedicated advisors across the LEP area who offer businesses practical advice and support.”
Funding applications must be able to demonstrate the opportunity and desire to grow, increase jobs and productivity.
To find out more visit www.wiltshirebusinesshub.co.uk