The Atlantic Wharf redevelopment is a key strategic priority for the city, with works already underway on the new 16,500 capacity indoor arena. The LGF Atlantic Wharf Growth Fund will support businesses within the Butetown ward to relaunch, develop, grow and maximise the opportunity provided by increased footfall, spend and visibility generated by the Atlantic Wharf redevelopment. The new fund will be available to Butetown based companies who meet the following criteria:
- A limited company, social enterprise, registered CIC or 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
- Business located and has address in Butetown ward
- 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
The Growth Fund will consist of:
- Grants from £1,000 to £20,000
- Available to businesses with their registered business address in Butetown ward.
- 2 quotes required for project spend
- Grant will be 75% of total project spend excluding VAT
- 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 [email protected].
Please note the fund is subject to the Council receiving final budget sign off
Guidance notes
The Atlantic Wharf redevelopment is a key strategic priority for the city, with works already underway on the new 16,500 capacity indoor arena. The LGF Atlantic Wharf Growth Fund will support businesses within the Butetown ward to relaunch, develop, grow and maximise the opportunity provided by increased footfall, spend and visibility generated by the Atlantic Wharf redevelopment.
Who can apply?
- A limited company, social enterprise, registered CIC or 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
- Business located and has address in Butetown Ward
- An SME (less than 250 employees and an annual turnover under €50 million)
How can businesses apply?
Businesses can apply for the grant by accessing the Council's business support website. If the business meets the criteria, then an application form can be requested via the fund email address:
[email protected] or [email protected]
Please note that all fields are mandatory - failure to complete them will result in your application being rejected.
Applications will be dealt with on a first come first served basis. This may lead to applications not being appraised after they have been submitted if the fund is fully committed. Applicants will be notified of this by email. Please note that priority will be given to applicants who did not receive funding from the previous Cardiff Growth Fund. Applicants are encouraged to submit an application as soon as possible.
The Local Authority has absolute discretion on the duration and terms of the fund.
How much grant is available to my business?
The LGF Atlantic Wharf Growth Fund is open to applications for grants between £1,000 and £20,000 to businesses with their registered business address within the Butetown ward. Grant award amounts will be 75% of total project spend excluding VAT. Eligible grant items must not have had deposit or committed to purchase prior to grant approval.
What can the grant be used towards?
Examples of eligible capital expenditure could include:
- Machinery and equipment
- CCTV, signage, improvements to commercial property
- Commercial premises fit-out (internal or frontage)
- Energy saving devices such as LED lighting, smart motion sensors etc
Ineligible Spends
- Property purchase
- Routine or ongoing running / revenue costs (including rents, rates, insurances, salaries, ongoing rentals).
- Purchase of franchise
- General revenue costs
- Purchase of goods / stock for the purpose of sale
- Purchase of goods or equipment for the purpose of rental
- Purchase of vehicles
Please note this is not an exhaustive list.
What information do I need to provide?
- Completed and signed application form
- 2 quotes relating to each element of eligible spend 12-month cash flow forecasts and two years accounts
- If planning permission or change of use relating to a commercial premises / building is required for the project then approval evidence is to be provided before grant approval can be made
- Proof of funds available whether in business account or loan to enable 100% purchase prior to grant claim
- Detail within the application of the outputs and outcomes of the potential funding
What happens after the application has been received?
Receipt of your application will be acknowledged within 10 working days.
Decisions on applications will be made based on the information provided in the application form, associated evidence and information checks that are conducted from other business data sources. If any data is incomplete or incorrect or the evidence provided is insufficient, e will not process the application and it will be rejected.
If successful you will receive an approval letter setting out the grant offer and the terms and conditions of the grant. At this point the business can undertake the spend on the project detailed in the application and then provide evidence of paid invoices and bank statements as evidence of spend against the eligible items. Once these invoices have been received and verified then the grant payment will be made.
Applicants will also need to acknowledge support from the Local Growth Fund and agree that the business or organisation can be used in promotional activity related to the Local Growth Fund.
If your application is unsuccessful, you will receive an email outlining the reasons for rejection. There is no appeal process.
If the business is successful in receiving a grant, what happens after?
The Council will request information and evidence occasionally from the business to monitor the outputs provided within the businesses approved application (job growth, increased turnover etc, environmental improvements etc).
Applicants should note that the Local Authority may require repayment of the grant in full or part if evidence emerges that the applicant was not eligible for the LGF Cardiff Business Fund.
Cardiff Council has absolute discretion over the terms, eligibility and decision making of the LGF Cardiff Business Fund grant awards and retains the ability to amend criteria at any time.
Applications for grant must provide value for money linked to the key interventions, outputs and outcomes established by the UK Local Growth Fund.
