if
it's about Cardiff..
Sport, Entertainment, Transportation, Business,
Development Projects, Leisure, Eating, Drinking,
Nightlife, Shopping, Train Spotting! etc.. then we want it here!
But the interesting part from my perspective is that it is funded by a European-funded scheme called SEWCED which gives grants to social enterprises in the South Wales Valleys area. The article says that £7 million has been awarded so far, helping to generate 90 jobs..
.. Now this means each job has cost something like £80,000. That is very expensive by any standard. If its true it seems indicative of more wasting of EU convergence funding.
But the interesting part from my perspective is that it is funded by a European-funded scheme called SEWCED which gives grants to social enterprises in the South Wales Valleys area. The article says that £7 million has been awarded so far, helping to generate 90 jobs..
.. Now this means each job has cost something like £80,000. That is very expensive extremely good value for money by the Welsh government's standard by any standard. If its true it seems indicative of more wasting of EU convergence funding.
But the interesting part from my perspective is that it is funded by a European-funded scheme called SEWCED which gives grants to social enterprises in the South Wales Valleys area. The article says that £7 million has been awarded so far, helping to generate 90 jobs..
.. Now this means each job has cost something like £80,000. That is very expensive by any standard. If its true it seems indicative of more wasting of EU convergence funding.
I'm no great fan of the way the WG has used the convergence funding but, to be fair, job-creation isn't the prime purpose of social enterprises. The EU defines them as follows;
"...their key distinguishing characteristics are the social and societal purpose combined with an entrepreneurial spirit of the private sector. Social enterprises devote their activities and reinvest their surpluses to achieving a wider social or community objective either in their members' or a wider interest."
I've no particular view on the Porthcawl project but it's clear from the article that it's not intended primarily as a jobs scheme.
