Business Development Funds
The element of this fund providing up to £25,000 is now oversubscribed and will be paused for new applications from 12 September 2023 to allow the applications received to be assessed.
The closing date for applications to the competitive element of both funds (applications seeking between £25,000 and £250,000) continues to be Friday, 29 September 2023.
We are aware that there have been problems with registering on Sell2Wales to conduct tendering exercises for contracts worth £50,000 or more
Remember that the Transform Fund guidelines note that you may also use an alternative Process which ensures that opportunities are advertised openly and that a fair Process is followed to chose suppliers (for example, a description of how Cyngor Gwynedd conducts tendering exercises can be found in Section 17 of its Constitution
The Business Development Funds, which are supported through the Shared Prosperity Fund: Gwynedd and the Shared Prosperity Fund: North Wales, are a plan to support Gwynedd businesses to recover and develop, stabilise and prepare for the future. The aim is to enable businesses to increase profits either through savings or increasing income.
There are two funds within the Business Development Funds.
- Spark Fund - Support grants from £2,500 to £25,000
- Transformation Fund – Support grants from £25,001 to £250,000
The fund offers support of up to 70% of the total eligible costs identified within the application. Therefore, any application will be required to be based on at least £3,570 of eligible costs.
Who can apply?
Small or medium-sized businesses from Gwynedd can apply for money from the Business Development Funds, they could be new or established businesses.
See the Spark Fund Guidelines and Transform Fund Guidelines to check eligibility.
The closing date for applications was 29 September 2023.
Spark Fund grants will be allocated on a first-come-first-served basis but your application must be complete before it is considered to have been submitted.
Transform Fund – We must receive your application by Friday, 29 September 2023. We will then assess your application and you will be given no more than one week to provide any missing information. As long as we have received all the information on time, we will assess applications from 6 October 2023, and intend to inform applicants of the outcome within 8 weeks.
We expect the two funds to be very popular, and we will not be able to support all applications
All projects must be completed and fully claimed by 30 September 2024