Start-up business fund launched for Port Talbot steelworkers
16 November 2024
A new £1 million start-up business fund has been launched to help former steelworkers in Port Talbot get back into work.
The fund, which is being managed by Tata Steel UK, will provide grants of up to £10,000 to individuals who have been made redundant from the steelworks.
The grants can be used to cover a range of start-up costs, such as equipment, premises, marketing and training.
The fund is part of a wider package of support that is being provided to Port Talbot steelworkers by Tata Steel UK.
This includes a job creation scheme, which is aiming to create 1,000 new jobs in the area, and a skills development programme, which is helping former steelworkers to gain new skills and qualifications.
The launch of the start-up business fund has been welcomed by local businesses and politicians.
“This is a great initiative that will help to create new jobs and businesses in Port Talbot,” said Andrew Morgan, chairman of the Port Talbot Chamber of Commerce.
“The steel industry has been a major part of the local economy for many years, and it is important that we do everything we can to support those who have been affected by the recent redundancies.”
“This fund will provide former steelworkers with the opportunity to start their own businesses and create a new future for themselves,” said Stephen Kinnock, MP for Aberavon.
“I am delighted that Tata Steel UK is investing in the future of Port Talbot and its people.”
The start-up business fund is open to former steelworkers who have been made redundant from the Port Talbot steelworks within the last 12 months.
Applications for the fund can be made online at the Tata Steel UK website.
The deadline for applications is 31 March 2025.
Start-up business fund launched for Port Talbot steelworkers
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