CARDIFF GROWTH FUND

The new LGF (Local Growth Fund) Cardiff Growth Fund will support businesses to relaunch, develop and grow. The funding provides an opportunity to grow the economy with the focus on creating a fairer, greener and prosperous future for Cardiff businesses.

Who is eligible for this funding?

The new fund will be available to Cardiff Local Authority based companies who meet the following criteria:

• A limited company, social enterprise or registered charity. Sole Traders are unfortunately not eligible.
• Has an operating turnover in last 3 years above the VAT threshold (£90,000).
• An established business that has been trading more than 2 years.
• Cardiff business address.
• An SME (less than 250 employees and an annual turnover under €50 million).

Business applications will be considered for investments that link with the city’s Stronger, Fairer, Greener Recovery Strategy, and will deliver:

• Job Creation and job safeguarding – monitored over a 12-month period.
• Growth in productivity, delivering an increase in turnover or market share.
• Increased accessibility and opportunities for local communities.

What is the Funding?

The Cardiff Growth Fund will consist of:

• Grants from £2,500 to £20,000.
• Available to businesses with their registered business address in Cardiff.
• 2 quotes required for project spend.
• Grant will be 50% of total project spend excluding VAT (75% for Social Enterprise or charity).
• Items must not have had deposit or committed to purchase prior to approval.

Applicants will also need to show if grant funding can help contribute to the economic, social, cultural and environmental wellbeing of Cardiff.

We will consider applications above £20,000 for strategic projects that focus on creating jobs and investing in large capital projects.

You can find out more by emailing cardiffgrowthfund@cardiff.gov.uk.

*Please note the fund is subject to the Council receiving final budget sign off.