Business Growth Grant
Eligibility
The Powys Business Growth Grant is funded by the UK Government via the Shared Prosperity Fund and delivered by Powys County Council and as such is only available for application to new or existing businesses within the eligible sectors that are in or planning to locate within Powys.
Support is aimed primarily at existing businesses to be operating in or servicing the following growth and foundation sectors:
- Advanced Materials and Manufacturing
- Construction
- Creative Industries
- Energy and Environment
- Finance and Professional Services
- Information Technology and Telecoms
- Life Sciences
- Food & Drink
- Tourism
- Retail
- Care
Applications will however be considered on a case-by-case basis subject to their potential contribution and value to the local economy
The following sectors are ineligible for support: - primary agriculture production, forestry, aquaculture, fishing and statutory services e.g. Primary health and education
The Fund is available for businesses of all sizes which aim to implement their growth and recovery plans and must result in the creation and/or the safeguarding of jobs. Applicants must therefore demonstrate their growth plans (and provide evidence where applicable) within the application process.
All expenditure associated to the grant must be purchased and claimed within 4 months of the date of approval letter or no later than 30th September 2024, whichever is earliest. No extensions will be given for claims to be submitted. The proposed business and associated jobs must be created within 6 months of the final payment of grant or 30th November 2024 whichever is the earliest. Monitoring of the business and jobs created will take place and evidence will be required. Failure to achieve the committed outputs could result in the claw back of grant funds.
Upon giving reasonable notice, Powys County Council reserves the right to monitor and maintain evidence at 1, 3 and 5 years from the receipt of a grant application.