A new £250,000 fund to support small and medium sized businesses working in the construction sector across Wales was announced by Economy Minister Edwina Hart today.
The Construction Sector Development Fund 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.
The Minister said:” We have a large number of small and medium sized enterprises working in the construction sector that make a significant contribution to the Welsh economy. The Fund is designed to help these enterprises increase their competitiveness, win new business and help grow the sector.
“There are many opportunities developing in nuclear energy, renewable energy and rail infrastructure projects across Wales for example, 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 opportunities, and the Fund can assist them improve their capacity and capability, help them 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 31 March 2014. More information about the fund and EOI forms are available by visiting www.business.wales.gov.uk/constructionfund or calling 03000 6 03000