Businesses across Wales are set to reap the benefits of up to £3 billion in European Union funding.

West Wales and the Valleys has become the first region in Britain to have its EU Structural Fund programme legally adopted, leading the way for massive investment during the period 2007 to 2013.

Around £570 million will be ploughed into a Convergence programme for West Wales and the Valleys, as a successor to the previous Objective 1 funding programme carried out between 2000 and 2006.

The European Development Fund (ERDF) will also provide an additional £856 million to support research and innovation, tackle climate change, and regenerate deprived communities.

Other new initiatives in the pipeline include the East Wales Regional Competitiveness scheme and an Employment programme.

Announcing the windfall in Swansea, First Minister Rhodri Morgan, said:

“We are now in a position to move forward with a seven-year plan to continue Wales’ transformation into a dynamic, thriving nation.

“In line with the Lisbon and Gothenburg agendas of sustainable jobs and growth, we will be taking action to encourage full employment with quality jobs, as well as helping to ensure the growth and expansion of our businesses.”

Ieuan Wyn Jones, Deputy First Minister and Minister for the Economy and Transport, said:

“Our aim is to ensure that Wales continues to progress towards competitive, sustainable economic development.

“We want to create long-term, high quality jobs as well as providing the right environment to enable businesses to flourish and expand.”

The first round of projects set to benefit from the funding are due to be approved within the next couple of months.

Previous rounds of European Structural funds had seen more than £1.5 billion allocated in Wales to almost 3,000 separate projects.

Source: Welsh Assembly Government, 20/09/2007

More on Grant Funding

John

Our Grant Specialists help business owners achieve their goals, they provide practical, expert advice with “hands on” implementation at a cost that small businesses can afford

All Advisers are seasoned and mature business professionals with decades of experience, most often at the board or director level of major companies. They are well trained in working with business owners and take a highly practical approach to solving problems and enhancing your business, working closely with you at each step of the way. Because of our low overheads and efficient network structure we can offer services at only a fraction of the cost of the big consultancy companies.

What does the Grant Specialist Team do?

· They offer a no-win, no fee service with 10% commission on grants obtained

· They advise on all aspects of obtaining a grant. All advice is free

· They research whether a grant is available to you

· They identify the most appropriate grant for you

· They complete the paperwork for you

· They maximise your chance of obtaining a grant

How do the Grant Specialists work at Strategy Consulting?

Our Grant Specialists provide expert advice on grants and loans available to clients. By offering a complete application service package it allows management to benefit from grants without the time commitment involved in the application process. The service is offered throughout England.

Strategy Consulting supply the basic company information to enable a search of relevant grants to be made. A brief report is supplied to Strategy Consulting who forward it to the client. If the client wishes to pursue any of the grants listed, the necessary information for any applications is obtained by telephone calls or by an on-site meeting as appropriate. A draft application is sent to the client for comment and, with the client’s agreement, to contacts within the grant agency for informal opinion. Following feedback, a full application is made.

· We provide free initial consultation

· We provide grant searches

· We work on a no-win, no-fee contract basis (see terms overleaf)

· We work with full confidentiality

Did you know that over 60% of companies are eligible for UK and EU grants?

Over 930 different EU and UK grants and loans are available form over 100 issuing bodies. They provide the cheapest form of finance available to companies, partnerships and individuals. Two grants we typically obtain for our clients are:

Technology Grants

These generous government grants support technology developments by SMEs from the first idea through to commercial launch. On June 1st 2003, they were relaunched with a considerable improvement in terms.

· Research project. For a technical and feasibility study of an innovative idea or new technology. 60% of costs to a grant of £75,000.

· Development Project. For development up to pre-production. 35% up to a grant of £200,000 or £500,000 in exceptional circumstances.

· Micro projects. 50% of eligible costs up to a grant of £20,000.

Export Marketing Grants

These grants are ideal for companies wanting to start exporting or moving into new markets. Grants of 50% of costs are available for up to 10 export markets with a maximum grant of £20,000 each.

Grants pay for detailed research studies of export markets using internal staff or external consultants. Reports are designed to allow companies to develop a knowledge of the market, write a strategy and business plan and produce a list of contacts necessary in establishing commercial links.

Terms

Payment is usually on a no-win, no-fee basis with a commission of 10% plus VAT. All initial meetings and consultations are free and with no obligation. If after receiving the results of the initial grants search, the client wishes to proceed with further research and applications, an administration fee of £250 plus VAT is payable. In the event of any grant application being successful, this fee is deducted from the commission that becomes due.

More information on Business Grants

J. G. Courtney, Chairman
Strategy Consulting Limited
john@strategyconsultinglimited.co.uk

Funding: BUSINESS ANGELS - SMALL FIRMS LOAN GUARANTEES - GRANTS - PROPERTY FINANCE - FACTORING
Strategy: BUSINESS STRATEGY - BUSINESS PLANNING - WORKSHOPS - NON-EXECUTIVE DIRECTORS
Marketing: MARKETING STRATEGY - NEW PRODUCTS - TELEMARKETING - SEARCH ENGINE OPTIMISATION
grants, grant, UK, europe, european, funding, finance, SME, technology, export, marketing

For the United Kingdom there are some 850 different grants provided by UK national organisations or European Union sources. In addition, there are some 3,000 “grants” provided by local councils, economic development units, enterprise agencies and other specific local bodies.
The amount of grant depends upon the purpose for which it is given.

The main purposes are as follows: -

CAPITAL GRANTS FOR INVESTMENT
In reality these grants are more concerned with the protection or creation of employment. Grant levels range between 5% and 25% of overall project costs, alternatively, between £2,500 and £7,000 per job created.

TRAINING GRANTS
Grants and soft loans cover both design and delivery of training. Soft loans of up to 80% of training costs may be obtained by SME’s and other grants of between 20% and 50% of training costs are available in specific instances whereby engineering training is particularly favoured.

RESEARCH AND DEVELOPMENT GRANTS
R&D grants run at between 30% to 50% of the total project cost. Costs may include salaries, consumables, related capital expenditure, consultancy, IPR protection and a substantial contribution towards overheads.
• Feasibility Studies into innovative technology will provide a grant of up to 75% of eligible project costs to a maximum of £45,000. Eligible costs to be at least £30,000 and project duration 6 - 18 months for SME’s with less than 50 employees.
• Development Projects up to pre-production prototype stage of new products and processes involving a significant technological advance. This will produce a grant of up to 30% of eligible project costs to a maximum of ECU 200,000 (including any grant already received for a feasibility study). Eligible costs to be at least £60,000 and project duration 6 - 36 months. Open to SME’s with less than 250 employees.
On the face of it there is little change from the old SPUR/SMART system, however all awards are considered on a competitive or challenge basis.

INFRASTRUCTURE PROJECTS
These grants target specific areas which have suffered industrial or sectoral decline e.g. textile, fishing or defence industry locations.

EXPORT GRANTS
These may subsidise the cost of setting up export activities, or provide joint venture finance. Joint venture support may run at 50% of feasibility studies or a substantial 20% to 50% of joint venture set-up costs.

ADVISORY SERVICES
Free or subsidised consultancy or provision of specialist information. Consultancy grants for specific tasks will run at up to 50% of consultancy fees. Specialist information services, access to databases etc is free or requires a nominal contribution.

MISCELLANEOUS GRANTS
e.g. assistance for museums, the disabled, rail and water freight projects, craft industries and rural development.
The key point is that grants and soft loans will always only meet a percentage of the total cost. The applicant will invariably have to demonstrate that the balance of funding to see the project through to completion is readily available.

Why use a grant consultant?
Where capital grants or substantial grants for research and development are concerned, and some others, the application procedure and forms are complex. More importantly, the decision-making criteria with which civil servants both in the UK and the EU work are not in the public domain. It is thus difficult for outsiders to know or understand exactly what points would favour their application as opposed to those which would condemn it.

Grant bodies are invariably striving to give the minimum grant necessary, in their opinion, to assist the project. whereas the consultant acting, on behalf of the client, will be striving to maximise the grant obtained.
Consultants can help senior management, which invariably has many other priorities, by saving time and effort by carrying out the application procedures on their behalf.

Consultants are most valuable where grants are issued on a “challenge” or competitive basis. Almost all EU R&D grants are issued on a competitive basis, i.e. applications are submitted, ranked in order of merit and only those deemed the most deserving will receive funds.

The UK has been moving strongly towards “challenge” grant awarding. In these instances the use of a consultant is imperative.

business grants

Marketing: SEARCH ENGINE OPTIMISATION - MARKETING - NEW PRODUCTS
Funding: BUSINESS ANGELS - SMALL FIRMS LOAN GUARANTEES - GRANTS
Strategy: STRATEGY - BUSINESS PLANNING - WORKSHOPS