This project is funded by the UK Government through the UK Shared Prosperity Fund.
Supporting New Businesses
Neath Port Talbot Council considers investment in new business start-ups, the development of existing businesses and the attraction of inward investors as critical to supporting local communities and the economy.
Our ‘Let’s Talk Starting YOUR Business’ programme aims to support individuals who are looking to start a business and those who are within the first six months of trading by providing them with information, support and guidance as well as grant funding for those that qualify.
Individuals looking to start a business on a part-time basis will also be considered where they are working in the business for at least 16 hours per week.
Applicants may claim up to £10,000 to help with start- up costs that is match funded at 100% for up to £5,000 and 70% for between £5,000 – £10,000.
Funds are discretionary and applications will be considered on a case-by-case basis after assessing the grant eligibility criteria and the benefits of the grant to the business.
Grant Funding
The Council’s Shared Prosperity Funded Business Start-up Grant is available to assist eligible applicants with the costs of starting a new business that will be providing them with full and/or part time employment (minimum of 16 hours + per week in year 1). The business owner must aim to achieve a personal income of at least £12570 from the business. This figure is HMRC’s minimum personal income tax allowance threshold.
Eligibility criteria
You may be eligible to apply if you:
· Have started trading or have been TEST Trading within the last 6 months
· Have not started trading, are employed part-time, unemployed, economically inactive, under notice of redundancy or moving from a job into self-employment at the time of your application (for Partnerships and Ltd Companies, each applicant must meet this eligibility criteria)
· Are aged 18 or over.
· Can demonstrate that you have experience and/or hold qualifications relevant to the field in which the business intends to operate.
· Have attended either:
– A Welsh Government business start-up workshop or
– A Prince’s Trust explore enterprise workshop or
– Can demonstrate previous experience of self-employment.
· Are receiving support through Business Wales or another approved/recognised support organisation
What business sectors are eligible?
Funding can support businesses operating in most sectors as long as the business is based within Neath Port Talbot. Examples include:
Construction
Creative & Media
Energy and Engineering
Environmental and ICT
Manufacturing and Renewables
Retail Services
Tourism, Hospitality & Leisure
What activities, if any, are ineligible?
Whilst a wide range of activities are supported, the list is not exhaustive. The Council will not support any illegal activity or any other activity which the panel deem may bring the Authority’s reputation into question. The following lists activities that are excluded from grant support.
Nude or semi-nude modelling
Offering of sexual services of any kind, Pornography
Counselling and Life coaching, Acupuncture
Gambling, Gaming Centres
Tattooists, Sun bed services
Cosmetic products and aesthetic procedures
Promotion of particular religious or political activities
Speculative Building
Alternatives therapies, products and medicines
Complimentary medical treatments
What costs does the grant support?
The grant will support a range of costs, with a minimum spend of £50.00 incl. of VAT per quote, including:
· Purchase and refurbishment of premises
· Plant machinery and Equipment
· IT hard and software
· Stock (i.e. raw materials used in the production of the items/products you wish to sell). NB: Items you buy-in to sell are not eligible.
· Tools
· Specialist consultancy support for businesses already trading/test trading
· Overheads including – marketing, advertising, insurances, etc.
What costs are not eligible for support?
· Weekly/Monthly subscriptions (unless they may be purchased upfront).
· Vehicles and their associated running costs i.e. petrol, tyres, maintenance, etc.
NB: Items purchased prior to submitting an application or receiving a formal grant offer will not be eligible for funding support.
How much can I apply for?
Up to £10,000 towards eligible start-up costs, match funded as follows:
For project expenditure up to £5,000 – 100% funded via the grant.
For project expenditure over £5,000 – 70% funded via the grant up to a maximum of £10,000 with applicants funding the other 30%.
The level of grant awarded is calculated on the basis of the following:
1. Percentage of the eligible costs (net of VAT), and
2. The number of jobs created and/or safeguarded by the project as follows:
– £5,000 per full-time @ 30+ hours per week
– £2,500 per part-time job of 16-29 hours per week.
Grants are discretionary and applications will be considered by the Council on a case-by-case basis.
NB:
· You cannot commit to expenditure before receiving a written offer.
· The Council has the discretion to check whether a business or applicant is in arrears with any payment to Neath Port Talbot Council, and this may affect the outcome of your application.
· Funding from Neath Port Talbot Council is subject to the UK Government Subsidy Control Act (2022).
How do I apply?
You will be sent a link to complete and submit and online application form, quotes for the items you intend to purchase and any additional supporting documents.
All applications must be signed by the owner, partner or director and submitted to the Council with the following documents:
· Cash flow forecast for the first year of trading
· Itemised quotes for each item you are purchasing as detailed below.
Quotes for the project expenditure must be submitted with your application.
NB: Only items over £50.00 incl. of VAT will be eligible
The following must be adhered to:
1. If you have your own Procurement Poilcy – A copy must be provided to Neath Port Talbot Council’s UKSPF Programme Management Office for their records.
2 If you do not have a Procurement Policy, you MUST follow the following rules to demonstrate value for money:
Contracts up to £10,000 – 1 (one) written quotation from a competitive source to demonstrate good practice and value for money. Copy of quotation retained for records. All figures include VAT.
Contracts £10,000 to £100,000 – A minimum of 2 (two) quotations must be sought from competitive sources with at least 1 (one) quotations being received. The quotations must be based on:
• the same specification of requirements
• the same evaluation criteria and evaluated on a like for like basis. It is good practice to establish an evaluation panel.
• the same closing date for receipt of quotes, after which no submissions will be accepted.
A documented record of the quotations sought, the evaluation process and the decision to award must be recorded for audit purposes.
*In the event that only 1 (one) quotation is received, you must contact the Council to provide details and justification of the procurement process you have undertaken. The decision to proceed to purchase must be approved by the Council on a case by case basis. Copy of all quotations and correspondence retained for records. All figures include VAT.
Over £100,000 up to Procurement Act 2023 threshold (currently £214,904 for goods/services and £5,372,609 for works). A minimum of 3 (three) quotations must be sought from competitive sources. In the event that less than two quotations are received, you must contact the Council to provide details and justification of the procurement process you have undertaken. The decision to proceed to purchase must be approved by the Council on a case by case basis. Copy of all quotations and correspondence retained for records. All figures include VAT.
All those invited to provide a quotation must be provided with the same information:
• the same specification of requirements
• an outline of the evaluation criteria against which the contract will be awarded and
• the same closing date for receipt of quotes, after which no submissions will be accepted.
The evaluation process you follow must be consistent with the original evaluation criteria outlined and a justification sheet produced detailing on what basis the successful tender was awarded. It is the best practice to establish an evaluation panel to evaluation tenders.
For Procurement processes with a value above the UK Threshold, contact your Council Project Officer.
NB: All applicants must be able to:
· Commence trading and purchase the items for which funding is sought within 2 months of the date of the offer letter.
· Fund the initial purchase of the items themselves.
· Provide evidence that agreed purchases and works have been paid for via a bank account or a credit card held in the name and address of the grant applicant. Payments made in cash will not be eligible for grant funding.
· Acknowledge that Neath Port Talbot Council may use your business and project details in future promotional activity e.g. press releases, case studies, etc.
· Acknowledge that Neath Port Talbot Council is required to publish details of grant awards.
Can I use credit cards and cash as well as my bank account to pay my project costs?
Payments for project expenditure must be made from a business bank account as follows:
Self-employed and sole traders – must use a bank account for business purposes, which may either be in your personal name, or business name. Statements submitted with grant claims must clearly evidence business income and expenditure.
Partnerships, Limited Companies, etc. – must use a bank account in the business name.
Purchases by credit card will be accepted where the card is held in the name and address of the grant applicant. Payments against credit card statements must be made from the above business bank account. Evidence will be required to show that the value of such credit card purchases have been paid off the relevant statement.
Payments by cash will not be accepted.
How do I draw down the funding?
Your offer letter/email will provide details of evidence that we will require in order to draw down the grant this could include: Confirmation of your UTR Number, ID, copy of invoices/receipts and Bank statements as proof of purchase and any other information considered relevant for your application.
The grant will be paid to your nominated Bank Account via BACS.
Will I receive any ongoing support?
We will stay in touch with you and make contact within your first six months of trading to see how the business is doing and to offer advice and support as needed.
Getting your business established can take time and you may need to make changes to your original plan and try different things. If at any time you want advice or support, or just need some information, please contact us on the details below
Can I apply for further funding?
As your business develops and grows, you may be eligible to apply for further funding
General Data Protection Regulations (GDPR) Your information will be processed in line with the Neath Port Talbot CBC – Economic Development Services Privacy Notice a hard copy of which is available on request.
Contact
If you require any further information, please contact:
Email: spfbusiness2@npt.gov.uk or telephone 01639 686835.