What is the Carmarthenshire Rural Enterprise Fund?
The Carmarthenshire Rural Enterprise Fund (CREF) can provide financial assistance to businesses and sole traders for the development of new and existing business premises, where jobs are being created as a result. Priority will be given to applications that will provide tangible benefits to the local economy in terms of quantity and quality of direct jobs created in key sectors. The purpose of the fund is to help rural businesses in Carmarthenshire to develop new and existing premises so that they might reach their full potential.
The £2m Carmarthenshire Rural Enterprise Fund was established to encourage rural businesses in Carmarthenshire to develop new and existing business premises, where new jobs are created. Small businesses and community organisations located in, or locating to, rural parts of the county can apply for the grant which will pay up to half of the eligible costs up to a maximum of £3,000.
What is on offer?
The grant offer will be either based on £20,000 per job created or up to the following intervention rates, whichever is the lesser figure;
- Small Businesses: 45%
- Medium Businesses: 35%
- Large Businesses: 25%*
The maximum grant award is £100,000. In exceptional circumstances this may be increased.
- The grant will fund improvement works to commercial property in rural wards within Carmarthenshire, as defined in the Local Development Strategy for Rural Carmarthenshire* where jobs are being created as a result.
- Applicants must be either the freehold owner of the property, or a leaseholder where the lease has a minimum of seven years remaining at the anticipated time of final payment of grant.