The Local Growth Fund - Business Development Grant
The Local Growth Fund (LGF) Business Development Grant and Business Growth and Innovation Fund aims to strengthen the regional economy by supporting enterprise, improving productivity and creating sustainable opportunities for communities across Neath Port Talbot. The fund is a key driver of business growth, innovation, and job creation.
Building on the success of the UK Shared Prosperity Fund (SPF), the programme has been designed to respond to local business needs, helping businesses start, grow and innovate while creating long-term employment opportunities.
This grant is primarily intended to support capital investment that enables business growth, improved productivity and job creation. A limited element of revenue expenditure may be considered where it is directly linked to, and necessary for, the delivery and effective implementation of the capital project. Revenue costs must be proportionate and clearly justified as supporting the capital investment.
Funds are discretionary and applications considered on a case-by-case basis
Grant Funding Available
Start-Up
Businesses
Grants of between £500 and £10,000 are available for eligible new business ventures.
Click the link below for guidance notes and Expression of Interest form:
Existing
Businesses
Grants of between £2,500 and £25,000 are available for established businesses looking to grow, innovate or improve productivity.
Click the link below for guidance notes and Expression of Interest form:
Business Growth and Innovation Fund
Grants available from £25,000 to £100,000 – up to 70% of eligible capital costs. Support for business growth, innovation, productivity and diversification.
Click the link below for guidance notes and how to apply:
This project is supported by the WG through the UKLGF in Wales
The grant supports projects that contribute to sustainable business growth and economic resilience across Neath Port Talbot.
Funding may support:
- Business growth and expansion
- Innovation and product development
- New service launches
- Productivity improvements
- Investment in equipment or technology
- Entering new markets
- Business start-up activity
- Knowledge transfer and collaboration
- Job creation
All grant awards must demonstrate the creation of jobs as part of the project outcomes.
The programme is open to:
- New start-up businesses
- Sole traders
- Micro businesses
- Small and medium-sized enterprises (SMEs)
- Social enterprises engaged in economic activity
- Existing businesses based in Neath Port Talbot
The Business Development Grant will be delivered through a competitive two-stage Open Call process.
Stage 1 – Expression of Interest (EOI)
Businesses can request and submit an initial Expression of Interest outlining their proposed project and funding requirements.
Stage 2 – Full Application
Eligible applicants will then be invited to submit a full application alongside supporting evidence.
The Open Call will remain open for one month.
Businesses are encouraged to prepare and submit applications early to avoid disappointment.
Grant applications need to demonstrate that they support a range of economic growth and business development outcomes, including:
Job Creation
Supporting the creation of new permanent full-time equivalent (FTE) jobs across Neath Port Talbot.
New Enterprises
Helping entrepreneurs establish new businesses registered through Companies House or HMRC.
Innovation
Supporting businesses to introduce new or improved products and services to the market.
Productivity Improvements
Helping businesses increase efficiency, output and competitiveness.
New Market Opportunities
Supporting businesses to expand into new regional, national or international markets.
New-to-Market Products
Encouraging the development of innovative products, services and technologies
The Business Development Grant aims to strengthen the regional economy by supporting enterprise, improving productivity and creating sustainable opportunities for communities across South West Wales.
Local Growth Funding forms part of the wider regional response to economic transition and regeneration, including support linked to the Tata Steel transition in Port Talbot.
By investing in local businesses, the programme aims to help create resilient businesses, quality jobs and long-term economic growth across Neath Port Talbot.
An Open Call is a public invitation for people or organisations to apply for funding, support within a set timeframe.
In simple terms, it means:
- Applications are open to anyone who meets the eligibility criteria
- There is a fixed deadline to apply
- Applications are assessed competitively
- Successful applicants are selected based on how well they meet the programme objectives
For this grant programme, the Open Call gives businesses in Neath Port Talbot the opportunity to apply for funding during a one-month application window.