ASSEMBLY INVESTMENT GRANT HELPS CAERPHILLY COMPANY WITH EXPANSION PLANS
A Caerphilly-based company has recently benefited from an Assembly Investment Grant (AIG) of over £40,000 to purchase new equipment and expand its operations. Blenheim EMC advises SMEs in respect of compliance with the European Directive on Electromagnetic Compatibility (EMC).
Thanks to support from Caerphilly County Borough Council and independent professional advisory firm, Broomfield & Alexander, Blenheim EMC has received an AIG of £42,750 to purchase state of the art, diagnostic test equipment and establish a new EMC test facility at premises in the Caerphilly County Borough.
Under an EU Directive, all electrical products and systems must be electromagnetically compatible in relevant domestic, office and industrial environments. Products or systems must not interfere with or be interfered by other nearby electrical products or systems. All such products must comply with limits and standards of emitted or received electromagnetic energy and be labelled with the Community European (CE) mark.
John Edney from Caerphilly County Borough Council was already working closely with Blenheim EMC in getting the company up and running. He put John in touch with Broomfield & Alexander, who advised him what funding was available and helped him to put together an application for an AIG.
John Williams said: “The AIG has been absolutely invaluable. To get the business to this standard without it would have taken four or five years. The scope of the equipment purchased for the facility has also opened the way to new design and development opportunities. We have received excellent advice from Caerphilly County Borough Council and Broomfield & Alexander. This has proved to be hugely significant in our continuing success.”
Mark Jones from Broomfield & Alexander led the team that helped Blenheim EMC to put its grant application together. He said: “We work very closely with local authorities and funding providers throughout Wales to help identify ways that will enable local businesses to grow and prosper. For the first time applicant, applying for funding can be very fraught – this is where we can help by drawing on our wealth of experience and knowledge that we have gained through helping other companies. The AIG is designed to be as streamlined as possible by aiming to give a decision within 20 working days of receipt of application, allowing businesses to set realistic timescales for development and growth. As is the case with Blenheim EMC, within a few months of applying for an AIG, businesses can see results that would normally take a couple of years to achieve.”
Cllr Rob Gough, Caerphilly County Borough Council cabinet member for Economic Development, said: “When John first contacted us for advice about getting the business started it was clear that Blenheim EMC was an ideal candidate for an Assembly Investment Grant. We gave a business planning grant to enable him to use the services of Broomfield & Alexander. Many businesses forget that the council has a key role to play in helping new companies get started and should always be one of the first points of contact.”
The Assembly Investment Grant is available to SMEs throughout Wales, offering support of £5,001 - £50,000. Businesses outside assisted areas are eligible, although businesses within assisted areas may be eligible for a higher level of grant. There is a streamlined application and claims procedure, which gives a decision within 20 working days.
As one of the largest independent chartered accountancy and professional advisory firms in Wales with more than 80 employees working from offices across South East Wales, Broomfield & Alexander has offered clients a range of business and financial planning advice since 1912. Its dedicated corporate finance team specialises in assisting SMEs access funding to develop their businesses.
For further information about the range of services the company offers, please telephone 0800 052 1387, e-mail www.broomfield.co.uk
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