The Secretary of State for Wales (Jo Stevens)
Today I can confirm that on 16 November, I announced a £13 million business start-up, growth and resilience fund to support businesses and individuals affected by Tata Steel’s decision to transition to greener steelmaking.
This is the next announcement of funding from the £80 million transition board fund, further displaying this Government’s commitment to support those impacted within Port Talbot and the wider community.
This fund will have three parts. This includes a start-up fund aimed at helping former employees of Tata Steel, former contractors and close family members who wish to set up their own businesses. Grants of up to £10,000 are available.
The second part is a business growth fund for local businesses to grow and expand with grants between £25,000 and £250,000.
The third part of this fund is the business resilience fund for businesses that are not in the direct supply chain of Tata Steel, but are still impacted by the changes, like local shops and cafés. Grants will be between £2,500 and £25,000.
This funding will be delivered in conjunction with the Welsh Government and Neath Port Talbot Council, ensuring that businesses within the area are able to survive the shock to the local economy.
Businesses and individuals can register an interest or send any inquiries to this email address: tsukqueries@npt.gov.uk
[HCWS227]