Business Start-up Grant
The Offer
Grants available between £1,000.00 and £10,000.00
Each grant award will be based on 50% of eligible costs OR a maximum of £5,000 per job created whichever is the lesser. (At least one new job must be created to access the fund) The business owner can be included as a new job.
The minimum grant award is £1,000.00 (based on at least one new job created) and the maximum grant award per business is £10,000.
Two part time jobs are considered as one full time equivalent-FTE should be based on the standard full-time hours of the employer. If you are only creating a part time job the grant will only be paid on a pro rata basis i.e., max of £2500.00 for a part time job.
All jobs created as part of the grant must be claimed within 6 months of the date of final grant payment or 30th November 2024 whichever is the earliest date.
We encourage that all jobs created with the support of the grant to be paid the Real Living Wage. https://www.livingwage.org.uk/what-real-living-wage
The fund will support new entrepreneurs with their business start-up aspirations by providing financial contribution towards capital expenditure projects and/or specialist revenue expenditure, which will either enable further capital investment projects or a specific business start-up proposal which may involve high revenue costs.
Each business can only apply for the Start Up Fund once but may apply for the Powys Business Growth Fund for separate projects if they grow the business and create further jobs. The outcomes from the start up fund, i.e., commencement of trading and jobs created must be delivered before the application for the growth fund can be considered.
If the business is applying for any other public funds such as the Town Centre grant, the expenditure and outputs cannot be duplicated.
It is important to note that grants are paid retrospectively, applicants must have the financial means to purchase the item(s) in full up front, and then claim the grant value from Powys County Council following the claims process.
Claims must be submitted within 4 months of the offer letter. To support cashflow, the grant team will consider the submission of two claims, but prior agreement must be sought from the Council.