Business Development Funds

This fund is now fully committed.

We are pleased to be able to report that all applications have now been assessed and that we are in the final stages of deciding which schemes should be supported. The total amount of support requested is over £9 million with only £2 million available. It is therefore inevitable that many applicants will be disappointed and there will be a number of deserving schemes that we cannot support.

To hear about any future funding opportunities please subscribe to the Business Support Bulletin

Close

The Business Development Funds, which are supported through the Shared Prosperity Fund: Gwynedd and the Shared Prosperity Fund: North Wales, are a plan to support Gwynedd businesses to recover and develop, stabilise and prepare for the future. The aim is to enable businesses to increase profits either through savings or increasing income.

There are two funds within the Business Development Funds.

  • Spark Fund - Support grants from £2,500 to £25,000
  • Transformation Fund – Support grants from £25,001 to £250,000

The fund offers support of up to 70% of the total eligible costs identified within the application. Therefore, any application will be required to be based on at least £3,570 of eligible costs.

 

Who can apply?

Small or medium-sized businesses from Gwynedd can apply for money from the Business Development Funds, they could be new or established businesses.

See the Spark Fund Guidelines and Transform Fund Guidelines to check eligibility. 

 

Apply online

The closing date for applications was 29 September 2023.

Spark Fund grants will be allocated on a first-come-first-served basis but your application must be complete before it is considered to have been submitted.  

Transform Fund – We must receive your application by Friday, 29 September 2023.  We will then assess your application and you will be given no more than one week to provide any missing information.  As long as we have received all the information on time, we will assess applications from 6 October 2023, and intend to inform applicants of the outcome within 8 weeks.  

We expect the two funds to be very popular, and we will not be able to support all applications  

All projects must be completed and fully claimed by 30 September 2024 

 

Main documents