A NEW £250,000 Welsh Government fund to support small and medium-sized businesses in the construction sector has been welcomed by Clwyd South AM Ken Skates.
The Construction Sector Development Fund, announced by Economy Minister Edwina Hart on Thursday (Jan 9), is now open for expressions of interest and will provide grants up to a maximum of £50,000 or 50% of the eligible costs of projects. The minimum grant payable is £5,000.
Labour Assembly Member Mr Skates said: “There are a large number of small and medium-sized enterprises working in the construction sector that make a significant contribution to the Welsh economy, including many in Clwyd South which I hope will benefit. The funding is designed to help these firms increase their competitiveness and win new business.
“Small and medium-sized businesses are the backbone of our economy and are so important. They need as much support as possible, especially in tough economic times like this, so I am delighted and proud that Welsh Labour is backing them.
“There are opportunities developing in renewable energy and rail infrastructure projects, for example, across Wales, and there are likely to be significant supply chain opportunities for SMEs in the construction sector as a result.
“We want SMEs in Wales to be in a position to access these opportunities, and the Construction Sector Development Fund can help them to improve their capacity and capability, gain specialist accreditation or buy equipment.”
Companies are initially asked to complete Expressions of Interest (EOI) forms, which will be assessed to determine eligibility before submitting a full application.
Applicants will need to demonstrate that projects can be completed and grants claimed by March 31. For more information about the fund and EOI forms call 03000 603000 or visit www.business.wales.gov.uk/constructionfund.