Business Incentive Grant
Test Valley Borough Council is committed to encouraging the strength and vitality of its local economy.
Developing a competitive local economy is one of our corporate priorities.
The Business Incentive Grant is intended to make a positive contribution towards the cost of creating a small business.
What is the Business Incentive Grant?
- Grants of £750 are available to new businesses starting up
- Any new small business starting up
- The business must be located within Test Valley
Any other rules?
- You should apply for the grant BEFORE you start the new business.
- The new business start up must be full time, permanent and your only job. The grant cannot be paid to part time start up businesses although applicants on voluntary and temporary zero hours contracts may be considered for the grant.
- Any planning/building control/licence or other necessary consent must have been obtained.
- You will receive two visits from the Council: first to establish whether you are eligible and second after 6 months, to confirm the new business is still operating. This will be determined by producing documentary evidence e.g. accounting records, invoices, receipts, bank statements in the name of the business and remittance advice etc. If the evidence is produced the grant will be paid.
- Only one grant per business will be paid.
- Only one grant per business in any 5 years will be paid.
- Normally you will receive a decision from the Council within 20 working days of the first visit.
- Second visits must take place within one year of the initial visit. NB. applicants should request the second visit.
Please note the Business Incentive Grant is for new start-up businesses only and not for those under new management
When will I get the money?
- Approximately 6 months after the initial visit a second visit will be arranged
If you are in receipt of means tested benefits, including from TVBC, it is your responsibility to notify the relevant agency, including TVBC Revenues Service of starting this new business. You are advised to contact the TVBC Planning & Building Service to enquire whether planning consent is required for the premises from which you intend to run the Business and the Valuation Office Agency to find out if Business Rates are payable. Planning consent and business rates will not always apply, so don't let that put you off from starting a business. If you intend to work from home you should also ask your Housing Association or landlord if they need to know you are starting a business.
How do I apply?
Please see the attachment below for an application form and further information.
Application forms may also be obtained from:
Test Valley Borough Council
Estates and Economic Development Service
Andover, SP10 3AJ
Jackie Hewson, Economic Development Officer
Tel: 01264 368309