Gwynedd businesses have secured over £1 million in funding support from the North West Wales Local Investment Fund (LIF) over recent years.
The scheme, which is now drawing to a close, has been part financed by the European Regional Development Fund (ERDF) through the Welsh Government, has allowed small and medium sized businesses to expand and grow in the area.
Since it began in 2009, the LIF has helped establish over 46 new businesses in Gwynedd, creating over 212 new jobs and safeguarding another 400 jobs in the process. It has also helped around 170 existing businesses within the county.
Gwynedd Council’s Cabinet Member for the Economy, Councillor Mandy Williams-Davies, said: “The LIF has been a real success story in terms of its popularity and achievements within the local business community. It has succeeded in supporting entrepreneurship and innovation across a wide range of businesses in the area, during what has been difficult economic times.
“Its success is also testimony to the close partnership working between the four local authorities of Gwynedd, Anglesey, Conwy and Denbighshire, which saw the project delivering many benefits for our small and medium sized enterprises. Gwynedd Council’s Business Support team have also prided themselves on being there to help and strengthen the business community and environment.”
One example of how the LIF has assisted a Gwynedd business is Dolgellau based Gwin Dylanwad Wine. The company that imports wine from all over the world and sells on a retail and wholesale basis was established in December 2014 by Llinos and Dylan Rowlands. It also sells produce from closer to home including wine, local beers, apple juice, ciders and wine related goods.
Dylan Rowlands from Gwin Dylanwad Wine said: “LIF funding has enabled the business to buy a wine preservation system, which allows us to offer up to 16 wines for tasting. There is a tasting room on the first floor of the premises where tutored tastings and training sessions are held.
“LIF funding has also helped us to buy kitchen/bar equipment, a till system, tables and chairs, and coffee machine.”
To date the project has created two full time jobs, with the prospect of more jobs particularly during the tourist season.