Four local businesses have been announced as the first beneficiaries of grants to support growth, thanks to funding secured by the Swindon and Wiltshire Local Enterprise Partnership
On Thursday 6th March, an expert panel met with a number of small and medium sized businesses from Swindon and Wiltshire, to consider applications for Gateway for Growth grants. The grants are designed to help businesses with growth projects, to help them reach their commercial potential.
Having considered applications from five businesses in the area as part of the first round of grant allocations, four businesses were awarded a total of £127,191 grant funding.
Funded by the Regional Growth Fund with support from Lancaster University, these grants are the first of many. There will be further opportunities for businesses to apply, with the next Grant Panel taking place on Friday 11th April.
Panel member and SWLEP Board member, James Phipps, said: “We are delighted by the number of responses we have received from local businesses and the quality of applications has been incredibly high. We were particularly impressed with the applications and proposals put forward by the successful businesses because of their commitment to innovation, accessing new markets, creating new jobs and increasing turnover.”
Specialising in the supply, installation and maintenance of stair lifts and bath lifts, 1st Choice Stairlifts Limited will use their grant to implement a new computer system. Based in Calne with 12 employees and a turnover of £1.3m last year, a grant of £12k has been awarded towards a project with an overall value of £38k.
Procol Ltd an interior design and fit out company with 23 employees and a current turnover of £5.1m per annum was awarded a grant to develop a serviced office solution in Melksham. A grant of £50k was awarded to support the development that will offer support to small local businesses. The overall project cost is around £370k.
Based in Devizes, The Country Candle Company a local manufacturer and distributor of candles and home fragrance products is investing their grant in new innovative technology and developing a supporting international sales plan. Through the Gateway for Growth, the business has also gained access to a leading expert in the sector to mentor the senior management team. The project is anticipated to cost in the region of £53k and a grant of £17k has been awarded.
Providing temporary power and electrical services to the event and entertainment industry, Power Logistics Services Ltd: were finding that recent sales growth and lack of available generators was restricting their business growth. A business plan developed with their local adviser will secure additional generators and employ additional staff to grow the business. With an anticipated project cost of £207k a grant award of £50k has been made.
Small and medium sized businesses can still apply for grants as part of the further funding rounds. Grants from £5k to £50k are available for businesses with at least 10 employees and turnover of at least £500k.
Funding applications must be able to demonstrate the opportunity and desire to grow, increase jobs and productivity.
To find out more visit wiltshirebusinesshub