The Local Investment Fund (LIF) is a package of flexible financial support to assist new and existing businesses by offering capital grants of 40% of eligible projects.
The Fund is designed to develop the local economy by stimulating business activity. To be considered, your project must meet one or more of these objectives:
• Increasing turnover
• Aiding business growth
• Increasing competitiveness
• Making efficiency gains
• Creating jobs
• Sustaining jobs
• Increasing sustainability
• Stimulating further investment/growth
• Introducing new products, services or markets
• Supporting a key sector (Clean/Renewable Energy, Environmental Management, Telecommunications, ICT, Financial/Professional Products/Services, Creative Industries, Automotive, Aerospace, Construction, Food, Defence, Leisure and Tourism)
• Creating/developing a Social Enterprise
As the grant is part funded through the European Regional Development Fund (Convergence) businesses will need to be eligible for funding under this scheme. There are certain sectors/activities which are deemed ineligible for EU funding.
Is my business eligible for support?
Small and medium sized enterprises (subject to certain criteria) are eligible for financial support – mainly those in, or servicing the manufacturing sector, though applications will be considered on a case by case basis. Please note limited funds are available.
What business sectors are eligible?
A wide range of business sectors are eligible including: marine, energy, engineering, manufacturing, innovation, tourism & leisure, knowledge economy, creative & media services, auto-components, construction, transport, finance, community & social enterprise, food and other general business services.
What business sectors are ineligible?
Agriculture, forestry, fishing, health services, local social welfare services and training activities are ineligible for this particular scheme.
Advice and Support –
Talk to an advisor to see if your business is eligible to apply to the Local Investment Fund. Professional, tailored advice and information to support your individual business needs is provided by our Regional Business Centre Service.
Our service can support any business, any sector – and it’s free and impartial. We provide advice on general business management, equality and diversity, finance, employment issues, environmental management and much more.
You can find us at the Bridge Innovation Centre, Pembrokeshire Science and Technology Park, Pembroke Dock. Telephone 01437 775795 or email businessinfo@pembrokeshire.gov.uk
