Growth & income generation funding available, but not forever

Growth & income generation funding available, but not forever

Published : 16/08/21 | Categories: Funding |

There is still EU funding available to support growth and income generation for voluntary organisations in many regions of Wales, but time is running out to apply.

With the end in sight for European Funding in Wales, our Social Investment Cymru team are encouraging voluntary organisations to get in touch to discuss ideas ahead of applying.

‘If you have an idea to expand your work that would create jobs while helping you increase your social impact, the Social Business Growth Fund could really help you get going’, said Alun Jones, Head of Social Investment Cymru.

‘Since the fund opened, we’ve seen so many inspiring growth projects from all sorts of mission-driven organisations, and we’re really keen for those from eligible regions to take advantage of the opportunity while it’s still available.

‘We know some of you might be wary of the admin that comes with European Funding, but the team is here to help and we’re very much encouraging organisations to pick up the phone ahead of applying to speak about how it could work for you.’

WHICH REGIONS CAN STILL BENEFIT?

The Social Business Growth Fund (SBGF) supports social businesses in Wales financially to enable them to grow and create job opportunities.

While all available funds have been allocated to the very eastern and southern edges of Wales (including Flintshire, Wrexham, Powys, Monmouthshire, Newport, Cardiff and the Vale of Glamorgan), those operating in the remaining counties can still apply. This includes:

  • Blaenau Gwent
  • Bridgend
  • Caerphilly
  • Carmarthenshire
  • Ceredigion
  • Conwy
  • Denbighshire
  • Gwynedd
  • Isle of Anglesey
  • Merthyr Tydfil
  • Neath Port Talbot
  • Pembrokeshire
  • Rhondda Cynon Taf
  • Swansea
  • Torfaen

WHAT CAN SBGF FUND?

SBGF has been used in a variety of ways to support growth and income generation, for example:

  • Purchase of property (or expansion, refurbishment etc)
  • Rent, equipment and salary support
  • Scaling up services for the people you support

However, the fund can support any innovative idea that will lead to the organisation generating income and creating and sustaining jobs (so long as it is within the spirit and scope of the fund). We’ve funded community pubs, dog kennels and even a mountain bike centre!

MORE ABOUT SBGF

The fund can provide investment of up to £150,000 and is part traditional grant and part repayable assistance with 0% interest. Match funding is a requirement of SBGF.

To find out more and discuss your ideas please get in contact with the Social Investment Cymru team on 0300 111 0124 or by emailing sic@wcva.cymru. If you’d like to arrange a call at a certain time you can book a one-to-one here. You can also find information on our Social Business Growth Fund page.

SBGF is part funded by the European Regional Development Fund and Welsh Government and is part of the suite of investments administered by Social Investment Cymru.

Related news

Published: 21/06/22 | Categories: Funding |

UKSPF update: Action needed

Read more

Published: 30/05/22 | Categories: Funding | News |

Replacement funding limbo for vital voluntary sector support services

Read more

Published: 16/05/22 | Categories: Funding |

Wales and Africa grant now open

Read more