Business Growth Grant
Post Completion - Terms and Conditions
It should be noted that the Powys Business Growth Fund is a discretionary grant and is subject to approval by Powys County Council.
The grant may be recovered should the business cease to trade, relocate or the items purchased as part of the grant are sold on within 5 years of award.
Limited Companies must use the business bank account to purchase all the items associated to the grant. It is encouraged for Sole Traders and partnerships that all goods purchased in relation to the grant are purchased using the business bank account.
It is important to note that grants are paid retrospectively, so applicants must have the means to purchase the item(s) in full up front, and then claim the grant value from Powys County Council.
Should the application be successful, the grant money is paid direct into the bank account of the applicant business. This is based on receipt or evidence of purchase and defrayment i.e. original or on-line printed bank statements and original invoices to confirm expenditure.
Any deviations to the application in terms of suppliers and expenditure must be requested to the grant team prior to purchase. Failure to seek approval may result in the grant not being paid for those items.
Photographic evidence of all items associated to the grant will be required to support the claim. In some instances, a site visit will be required.
The applicant must accept the terms and conditions of the grant by completing the Notification of Approval and Terms & Conditions within 30 days from receipt. All expenditure associated to the grant must be completed within 4 months of the date of approval letter or 30th September 2024 whichever is the earliest date. No extension will be given for the submission of the claim
The job(s) created and/or safeguarded associated to the projects must be achieved / sustained within 6 months of the final payment of grant or March 2025 whichever is the earliest date. Monitoring of the business and jobs created and/or safeguarded will take place and evidence will be required. Failure to achieve the committed outputs could result in the claw back of grant funds.
For all grant purposes monitoring of the claim and evidence will take place with prior notice at 1, 3 and 5 years from the date of award of the grant.
Should the project not proceed within the period stipulated in the offer of grant, the offer of grant will automatically lapse.
Any variation to the Terms & Conditions set out in the Approval Letter must be requested and agreed
Cash purchases will not be considered for grant payment.
Items purchased with credit cards are eligible, but applicants will need to evidence the transaction on their credit card bill. ** Limited companies must use the business credit cards to purchase items associated to the grant rather than personal cards of the director(s).
Grants will not be offered or paid if the business or applicant is in arrears with any payment to any of the participating local authorities operating the scheme.