The SPF Cardiff Growth Fund will support businesses to relaunch, develop and grow. The funding provides an opportunity to kick-start and grow the economy with the focus on creating a fairer, greener and prosperous future for Cardiff businesses.
Who can apply?
- A limited company, registered social enterprise or charity. Sole Traders are unfortunately not eligible.
- 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
- Cardiff business address
- An SME (less than 250 employees and an annual turnover under €50 million)
How can businesses apply?
Businesses can apply for the grant by accessing the Council’s business support website. If the business meets the criteria above then an application form can be requested via the fund email address: Cardiffgrowthfund@cardiff.gov.uk or Cronfatwfcaerdydd@caerdydd.gov.uk
Please note that all fields are mandatory – failure to complete them will result in your application being rejected.
Applications will be dealt with on a first come first served basis. This may lead to applications not being appraised after they have been submitted if the fund is fully committed. Applicants will be notified of this by email.
The Local Authority has absolute discretion on the duration and terms of the fund.
How much grant is available to my business?
The SPF Cardiff Growth Fund is open to applications for grants between £2,500 and £10,000 to businesses with their registered business address in Cardiff. Grant award amounts will be 50% of total project spend excluding VAT. Eligible grant items must not have had deposit or committed to purchase prior to grant approval.
What can the grant be used towards?
Examples of eligible spend could include:
- Machinery and equipment
- CCTV, signage, improvements to commercial property
- Feasibility Studies
Ineligible Spends
- Property purchase
- Routine or ongoing running / revenue costs (including rents, rates, insurances, salaries, ongoing rentals).
- Purchase of franchise
- General revenue costs
- Purchase of goods / stock for the purpose of sale
- Purchase of goods or equipment for the purpose of rental
- Purchase of vehicles
Please note this is not an exhaustive list.
What information do I need to provide?
- Completed and signed application form
- 2 quotes relating to each element of eligible spend
- 12-month cash flow forecasts and three years accounts
- If planning permission or change of use relating to a commercial premises / building is required for the project then approval evidence is to be provided before grant approval can be made
- Proof of funds available whether in business account or loan to enable 100% purchase prior to grant claim
- Within the application you will need to detail how the funding will relate to each intervention and outline the expected outputs and outcomes for the project
What happens after the application has been received?
Receipt of your application will be acknowledged within 10 working days.
Decisions on applications will be made based on the information provided in the application form, associated evidence and information checks that are conducted from other business data sources. If any data is incomplete or incorrect or the evidence provided is insufficient we will not process the application and it will be rejected.
If successful you will receive an approval letter setting out the grant offer and the terms and conditions of the grant. At this point the business can undertake the spend on the project detailed in the application and then provide evidence of paid invoices and bank statements as evidence of spend against the eligible items. Once these invoices have been received and verified then the grant payment will be made.
Applicants will also need to acknowledge support from the Shared Prosperity Fund and agree that the business or organisation can be used in promotional activity related to the Shared Prosperity Fund.
If your application is unsuccessful, you will receive an email outlining the reasons for rejection. There is no appeal process.
If the business is successful in receiving a grant, what happens after?
The Council will request information and evidence occasionally from the business to monitor the outputs provided within the businesses approved application (job growth, increased turnover etc, environmental improvements etc).
Applicants should note that the Local Authority may require repayment of the grant in full or part if evidence emerges that the applicant was not eligible for the SPF Cardiff Business Fund.
Cardiff Council has absolute discretion over the terms, eligibility and decision making of the SPF Cardiff Business Fund grant awards and retains the ability to amend criteria at any time.
Applications for grant must provide value for money linked to the key
interventions, outputs and outcomes (182kb PDF) established by the UK Shared Prosperity Fund.