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Invact — ERDF/SP Objective 2 – Offered Loans and/or grants for established SMEs and new business start ups.  If you were diversifying or investing in new activities/equipment or looking to set up your own business we could have helped in the period January 2005 to August 2008.

All required outputs were met; final statistics are shown below:

Number of SMEs receiving financial support 55 71
Number of New Start Businesses receiving financial support 12 21
Jobs Created 62 53
Jobs Safeguarded 122 157
Number of female owned SMEs assisted 5 6
Number of financial interventions leading to web trading 40 40

The project was due to run until December 2008 but we were requested to complete 4 months earlier than planned which affected a couple of outputs slightly.
The project developed better than anticipated on the grants side, however the capital had a slow start and a concerted effort during the last 6 months ensured all monies were committed. The grants worked well, as smes were able to receive grants back on their expenditure for reinvestment or to help take the 'sting' out of the initial cost. Assisting new business start ups and providing financial support with grant provided a lot of satisfaction in helping that company to cover some of the huge outlay/investment needed in order to progress and survive during/after the first year of trading.

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