Cynnal y Cardi Business Capital Grant Programme (UK)

Aims

• The aim of the Cynnal y Cardi Business Capital Grant is to:
  • Support new and existing businesses with their growth plans and aspirations
  • Facilitate and support the Social Enterprise Sector to realise their opportunities
  • Build resilience and knowledge within businesses particularly in relation to decarbonisation, energy efficiency and digital support
  • Support job creation and safeguard employment

Funding Information

• Each grant award will be based on 50% of eligible costs. Minimum grant support will be £5,000 and up to £50,000.

Eligible Costs

• Capital:
  • Purchase of essential equipment or machinery – this can include adaptations, alterations or upgrading to existing equipment, such as upgraded or improved ventilation system
  • Purchase of new or second-hand equipment which will further develop the business
  • Improvements to commercial premises to further development the business (including fixtures and fittings, furniture, and general office equipment etc. as part of a new office or outdoor facilities)
  • Factory vehicles such as forklifts and commercial vans which are green energy
  • Changing of existing lighting, heating to green options
  • IT and Telecom hardware if linked directly to the delivery of the proposal
• Specialist Revenue Expenditure:
  • Specialist/technical training costs associated with new capital equipment
  • Commissioning/Installation of Machinery
  • Specialist software required for operating new capital equipment
  • Charges associated to the delivery of any capital equipment
  • Production of websites, e-commerce/online shops, apps, etc. Websites and ecommerce development associated to the grant must be produced bilingually
• Items purchased with credit cards are eligible, but applicants will need to demonstrate that the amount of expenditure associated with the grant is evidenced on the credit card bill at the grant claim stage.
• The purchase costs of second-hand equipment are eligible for grant under the following conditions:
  • The seller of the equipment shall provide a declaration stating its origin, and confirm that at no point during the previous seven years has it been purchased with the aid of national or European grants;
  • The price of the equipment shall not exceed its market value and shall be less than the cost of similar new equipment, and
  • The equipment shall have the technical characteristics necessary for the operation and comply with applicable norms and standards, e.g. Health and Safety
  • Purchases from private sellers/individuals will be considered, however an invoice is required e.g. Facebook Marketplace, etc.

Ineligible Costs

• All staff costs including directors/owners of business
• Revenue expenditure such as taxes, bank charges
• General vehicles such as cars
• General repair and maintenance costs of commercial premises
• Replacement of like for like fixtures and fittings, furniture, and general office equipment etc.
• Contingency fees and costs which were committed or spent before the offer and acceptance of the grant
• Working capital costs such as stock, rent, rates, administration
• Costs of work being carried out as a legal statutory requirement, inc. planning permission and architectural plans
• If the business is VAT registered, then VAT will be ineligible. VAT will be payable in cases of non-VAT registered companies
• Cash purchases will not be considered for grant payment
• Items purchased through lease purchase, hire purchase, extended credit agreements/finance leases will not be considered for grant funding
• Professional fees associated in completing an application for grants
• The purchase of land or property
• Feasibility Studies
• Membership & affiliation to governing bodies

Eligibility Criteria

• The Grant is open to Start-up businesses, Micro businesses and Small-Medium Enterprises. The grant is only available for businesses with a registered address in Ceredigion and the investment must be used to support their business operation within the county. Evidence such as HMRC registration, bank statements, etc. will be required to prove trading dates.

For more information, visit Ceredigion County Council.