Business Incentive Grant

Test Valley Borough Council is committed to encouraging the strength and vitality of its local economy. 

Prosperity is one of Test Valley Borough Council’s corporate priorities. The Council is striving to create a conducive environment for new businesses. 

The Business Incentive Grant (BIG) is intended to make a positive contribution towards the cost of creating a small business. 

 

What is the Business Incentive Grant? 

BIGs are grants of £750 available to new business start-ups. Grants must be approved before the business has started trading and will be paid to the business bank account after the Council is satisfied that the business has been trading for a minimum of 6 months.  

 

Who qualifies? 

You can quality for a BIG if your business is a new start-up and: 

  • the business will be located within the borough of Test Valley. 

  • the owner will work for the business permanently on a full-time basis (minimum 30 hours per week) as their only job. 

 

Any other rules? 

  • You must apply for the grant BEFORE you start trading. 

  • The grant is only open to new start-up businesses and not those under new management, or those registered under a new name, or with a new governance structure where they will continue the activities of an existing business.

  • The grant will only be paid after the business has been trading for at least 6 months; if the business opens on a reduced rent agreement, this trading period will be extended to a minimum of 9 months. 

  • You need to contact the Council after 6 months of trading to provide evidence of trading and request a Council visit. 

  • A Test Valley Borough Councillor will visit you and have their photograph taken with you when the grant is paid. This will be publicised by TVBC via a press release and may be used in other promotional material produced by TVBC. 

  • If your business has a premises that is visited by the public, you must agree to display a window sticker confirming funding by TVBC, after you have received your grant and for a period of a minimum of 1 year. 

 

Process 

  • You will receive two visits from the Council: the first to establish your eligibility and the second after the minimum period of trading.  

  • Normally you will receive a decision from the Council about the award of a grant within 20 working days of the first visit.  

  • Prior to the second Council visit, you will be asked for documentary evidence that the business is still trading, e.g. accounting records, invoices, receipts, business bank statements.  

  • Second visits must take place within one year of the initial visit unless a delay is specifically agreed.  

  • Following the second visit and approval of the grant payment, you will be contacted by a Test Valley Borough Councillor to arrange a visit or meeting.  

 

When will I get the money? 

Approximately 6 months after the initial visit, please contact the Council to arrange a second visit, unless a delay has been agreed. If the Council Officer is satisfied that the business is operating, your grant will be paid to your business bank account. 

 

For Information 

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 when you start a 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 ask your Housing Association or landlord if they need to know you are starting a business. If you are unsure of what licences or permits may be needed for the business, please contact us on econdev@testvalley.gov.uk for advice. 

 

How do I apply? 

Please see the link on this page for an application form. 

For further information, please contact: 

Jackie Hewson, Economic Development Officer 
e-mail: econdev@testvalley.gov.uk 

Tel: 01264 368219 

 

Annex 1 

Terms and Conditions of a Business Incentive Grant 

  • The business must be a new start-up, not a business under new management, or registered under a new name, or with a new governance structure where it will continue the activities of an existing business.

  • The business must be located within the borough of Test Valley. 

  • The owner must work for the business permanently on a full-time basis (minimum 30 hours per week) as their only job. 

  • The date of the application must precede the date the business starts trading. 

  • Any planning/building control/licence or other necessary consent must be obtained. 

  • Grants will only be paid to business bank accounts. 

  • Only one TVBC grant per business will be paid (workers may still qualify for skills grants).  

  • Only one TVBC business grant per applicant will be paid in any 5-year period. 

  • The business must show evidence that the business has been trading for a minimum of 6 months before the grant is paid. 

  • The applicant must contact the Council after 6 months of trading to arrange a Council visit and provide evidence of trading. 

  • The grant will be delayed if the business is on reduced rent; in these circumstances the payment will not be made until the business has been successfully trading for a minimum of 9 months. 

  • If no contact has been made a year after grant approval, the grant offer will be withdrawn unless a delay has been agreed. 

  • The successful applicant must agree to meet with a Councillor or their representative when the grant is paid, and have a photograph taken for a press release and promotional use by TVBC. 

  • If the business has a premises that is visited by the public, a window sticker confirming funding by TVBC, must be displayed for a period of a minimum of 1 year after the grant has been paid. 

  • No activity which may be construed as radicalising or encouraging people into terrorism will be permitted to receive any grant. Should any allegation be received, or if the Council has reason to suspect noncompliance, the Council will investigate and may decide to cancel, modify or withdraw any offer or grant made to ensure compliance with the Counter-Terrorism and Security Act 2015. 

  • Businesses are not eligible for a BIG if receipt of the requested grant from the Council will exceed the Minimum Financial Assistance (MFA) threshold for the business as specified in section 36(1) of the Subsidy Control Act (2022). The total amount of 'Minimum Financial Assistance' (MFA) received over a rolling period of three fiscal years should not exceed £315,000 per business at company group level (including the grant you are applying for). 

  • If awarded with a BIG, the business will be required to declare this funding in future applications for public funding over the following three fiscal years. 

  • Applicants on voluntary and temporary zero hours contracts may be considered for the grant at the discretion of the Test Valley Borough Council Officer. 

Data Protection 

The Council is required by law to protect the public funds it administers and may share information provided in order to prevent or detect fraud. 

Any personal data you supply on this application form will be used for purposes in connection with the grant scheme and to provide information or advice to support your business including the TVBC newsletter; it will not be transferred outside of the European Economic Area. Should you decide you do not wish to receive the TVBC newsletter, you can unsubscribe by clicking the unsubscribe option at the bottom of the newsletter. Further information on the Council’s TVBC data protection policy can be found at GDPR - General Data Protection Regulation | Test Valley Borough Council