Thirteen grants, totalling over £61,000, were approved during the second intake of applications to the Business Transformation Fund. The projected impact of these projects after one year includes safeguarding 52 jobs, creating 23 new jobs and an increased combined turnover of almost £3 million.
The Business Transformation Fund delivers four funding rounds in a financial year, with businesses able to apply for 50% grant funding towards eligible projects. The grant fund can support investment in:
• capital expenditure (plant, equipment, machinery) - up to £6,000 available;
• infrastructure improvement (premises expansion, conversion, improvement) - up to £6,000 available;
• consultancy support (external input to growth projects) - up to £3,000 available;
• exhibition support (UK/overseas industry exhibitions or trade show participation) - up to £3,000 available; and
• training support (to raise skills levels, improve competency, productivity) - up to £2,000 available.
The September 2019 funding panel approved grant awards to 13 North Lanarkshire-based businesses including:
• Artistic Furniture Scotland, Motherwell £6,000 (capital expenditure grant)
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• Contract Bottlers Glasgow Ltd, Cumbernauld £9,000 (capital expenditure and consultancy grants)
• Cool Blinds Ltd, Motherwell £6,000 (capital expenditure and infrastructure grants)
• Core Plant Hire Ltd, Motherwell £2,000 (consultancy grant)
• Door & Gate Engineering Services Ltd, Bellshill £6,000 (infrastructure grant)
• Light Connections Scotland Ltd, Shotts £1,750 (consultancy grant)
• Pulp-Tec Ltd, Cumbernauld £6,000 (infrastructure grant)
• Rhinowash Ltd, Wishaw £3,000 (consultancy grant)
• The Ritual Works Ltd, Airdrie £6,000 (capital expenditure grant)
• VWS Ltd, Cumbernauld £9,000 (capital expenditure and consultancy grants).
One of those successful applicants, VWS Ltd based in Cumbernauld, provide security, fire safety, CCTV and intelligent building systems in the construction sector. The company recently moved to larger premises in Westfield, Cumbernauld and currently employs 29 staff. It was awarded a total of £9,000 in grant funding from the Business Transformation Fund.
Graham McMonigle, Director at VWS Ltd commented: "Financial assistance from the fund will help our business to grow. The capital expenditure grant has assisted in the purchase of a new Mobile Elevated Work Platform (MEWP). This will be an invaluable asset, helping us maintain and install CCTV systems across the country.
"Consultancy support is helping us to pursue Environmental Management System ISO14001. Once this accreditation is gained, we will be able to highlight the steps we are taking to reduce our carbon footprint. We will also be able to bid for larger tender projects which will ultimately enable us to secure and employ more staff.
"I would urge any business within the North Lanarkshire area to bid for funding as it has helped us progress the business with a welcome cash injection. The process was well explained from the start to finish and help is always on hand should you need it."
Yvonne Weir, the council's Enterprise Manager, commented: "The Business Transformation Fund continues to attract strong levels of interest and demand. In this most recent round, applications from the manufacturing, construction, food and drink and health and social care sectors have featured heavily. As priority sectors in North Lanarkshire's economy, we look forward to following the progress and impact of projects as they are implemented."
The application deadlines for rounds three and four of funding are: 05 December 2019 (4pm) and 13 March 2020 (4pm).
(MH/CM)
