Businesses in the seven Welsh Enterprise Zones, including Ebbw Vale, are being invited to bid for more than £3m in the latest round of a Welsh Government Business Rate scheme.

The Enterprise Zone Business Rates Scheme is a discretionary grant scheme for SMEs to lower their operating costs by providing a grant to offset their Business Rates for up to two years.

Minister for Economy, Edwina Hart is calling on all eligible businesses in the Enterprise Zones to bid for a share of the scheme.

“I’d encourage all SMEs which are either located in an Enterprise Zone or looking to start a business in an Enterprise Zone to apply,” she said.

“I established the scheme following the Business Rates Review that examined how we could use the business rates regime to encourage economic growth in Wales. It is another way that we are helping small businesses to expand.”

Since the scheme was launched 66 businesses have been approved for support totalling nearly £4.5m.

Applications for the current financial year can be made until June 3, with the maximum grant available to each successful applicant being £55,000 per annum or the business rates paid (whichever is the lowest).

The Enterprise Zone Business Rates Scheme which was launched in 2012 and will run until March 2016 for companies based in the Enterprise Zones. Priority will be given to new start ups and businesses increasing their workforce.