Once a business has developed a product or service it may require investment before it can start to trade. Finance is currently difficult to source and therefore Menter Môn have established a fund for new or existing companies which are looking to grow. Many, although not all, will have also received pre commercial support to develop a new product.
An investment of between £5,000 and £20,000 is available on an equity basis for businesses that meet the criteria and are keen to grow. Funds can used for purchasing equipment or the initial product. Priority will be given to businesses demonstrating growth potential in terms of launching new products, entering new markets and increasing employment.
When deciding whether to invest, we will carry out detailed due diligence and consider the following:
Glenys Owen has been involved in the woodfuel business for quite some time. With the cost of oil rising and people being more aware of their fuel costs, there has been a substantial increase in woodfuel demand. Glenys and her husband David, have invested in expanding their woodfuel business but found that a little more help was needed in order for them to process their kindling faster. The Rural Joint Venture Project stepped in to help. By purchasing their kindling machine and finalising their yard expansion with the help of these funds, they are now employing their son together with a further job to be created when the season starts in September. There is also a further plus for the residents of Anglesey as they only supply high quality fuelwood which can now also be found in Stermat.
Martyn Jones of Elevate Media is a young lad who had a good idea. Twitter is popular and everyone loves films. Why not use Twitter to promote and discuss films, old and new? From this idea Twittflick was born and using monies from the Bauhaus and RJV projects Martyn was able to develop his concept into a slick website with reviews and updates through Twitter. The site will be launched in September and is linked to Amazon who have reported, despite the recession, their DVD revenue is up by 46% in the first quarter of this year compared to 2009. So watch out for Twittflick and enter their competition being launched in September, if this platform is a success they may expand into games, music, travel, technology and sport.