Applications now open for Port Talbot Waterfront Enterprise Zone Business Rates Scheme

A targeted round of the Enterprise Zone Business Rates Scheme is now available to businesses within the Port Talbot Waterfront Enterprise Zone, which could see successful applicants receive up to £55,000 or their business rates paid – whichever is the lowest.

The Enterprise Zone Business Rates Scheme is a discretionary grant scheme for small to medium sized enterprises to lower their operating costs by providing a grant to offset their Business Rates incurred during 2016/17 financial year.

Businesses located in the Port Talbot Waterfront Enterprise Zone are invited to explore opportunities to benefit from the Business Rates Scheme by attending a workshop on Friday 29th July between 10am until 1pm at the Best Western Aberavon Beach Hotel, Swansea Bay, Port Talbot, SA12 6QP

To attend, please register by visiting Business Wales website.

Cabinet Secretary for Economy and Infrastructure, Ken Skates, is calling on all eligible businesses in the Enterprise Zones to apply to the scheme:

“I’d encourage all small to medium sized businesses that are either located in Port Talbot Waterfront Enterprise Zone or looking to start a business in the Zone to apply. This scheme can be of huge benefit to companies that will help promote economic growth and job creation in the area,” he said.

The Enterprise Zone Business Rates Scheme, which was launched in 2012, has offered more than £9m in support to over 200 businesses.

Applications for the current financial year can be made until Friday, 30th September 2016.

To be eligible to apply, a business will need to demonstrate firstly, that it is:

• located within the boundaries of the  Port Talbot Waterfront Enterprise Zone
• registered to pay business rates
• within the parameters of the EU definition of an SME
• not a business that serves only a local market or in a sector of the UK market which is already fully served.

Secondly, an eligible business will need to demonstrate that it is a new start and/or increasing its permanent full time workforce.

Consideration will also be given to other business activity related to sectors, increased productivity and Innovation/R&D.

Business not able to attend the workshop and would like further information on the eligibility criteria, should contact our helpline on freephone 03000 6 03000 or visit www.porttalbot-ez.gov.wales for an application form