Growth grants expected to boost Wiltshire economy by £10m and create 85 new jobs
Eleven Wiltshire businesses have been awarded a total of £348,000 to help them expand – a move that is expected to drive revenue growth by £10 million and create up to 85 new jobs.
The grants were awarded by Swindon and Wiltshire Local Enterprise Partnership in the second round of the Gateway for Growth scheme.
Among the recipients were Swindon-based Tetronics International, who will be extending their global reach as a result of their successful grant application.
The business was awarded a grant of £50,000 to help establish a permanent presence in China for their environmental solutions for resource recovery and hazardous material treatment.
A sales growth of 20 percent over the next two years is anticipated, along with the creation of 11 new jobs in Swindon.
Chippenham-based RTS Group also plan to develop overseas opportunities for their learning and development services within the automotive sector.
Their application for grant funding to develop their business was successful to the tune of £50,000, including projects to upgrade their systems and develop overseas opportunities.
And a grant for Leafield Environmental Ltd will help the Corsham-based manufacturers bring a new product range to market. They were awarded £50,000 to expand their product line to include hard-wearing mobile storage cases.
Grants panel chairman and SWLEP Board member, James Phipps, said: “We received a fantastic response for this second round of grant funding and the quality of applications remains high.
“A common theme amongst applicants was a desire to extend their markets overseas. We are delighted that these grants will help to show the world the business potential that lies within Swindon and Wiltshire.”
Rob Perks, CEO at Wessex Chambers who led on the delivery of the project said: “It’s great to see the Wiltshire Business Hub fully up and running and delivering real, tangible value to businesses across Swindon and Wiltshire.
“The project is enabling businesses that might otherwise be unable to commence new initiatives, to break through barriers and go on to even greater success.”
Other successful grant applicants include Aerian Studios Ltd, Clear Vision Accountancy Ltd, DL Windows, Leafield Logistics & Technical Services Ltd, Saphire Group, Valldata Services Ltd, Westcut Engineering Ltd and Wiltshire Heavy Buildings Materials Ltd.
Funded by the Regional Growth Fund with support from Lancaster University, there will be further opportunities for businesses to apply, with the next Grant Panel taking place in July. Small and medium sized businesses with at least 10 employees and turnover of at least £500,000 can apply for grants from £5,000 to £50,000.
Isobel Brown, director at Swindon and Wiltshire LEP, said: “It’s fantastic to see that funding secured by the SWLEP is continuing to support businesses in the area to grow. In addition to the grants, the programme has dedicated advisors across the LEP area who offer businesses practical advice and support.”
Funding applications must be able to demonstrate the opportunity and desire to grow, increase jobs and productivity.
For more information, log on to www.wiltshirebusinesshub.co.uk