Vale Business Development Grant Fund

The Vale Business Development Grant Fund proposes to provide financial support to established businesses in the Vale of Glamorgan, across all industry sectors.

The aim of the fund is to foster growth and development and enable businesses to innovate, decarbonise and grow.

The Grant Fund will stimulate economic growth such as business expansion, diversification, innovation, and job creation which all contribute to overall economic growth and development in the Vale. 

All size grants will be offered at 50% grant funding, 50% match funding for projects. 

Frequently asked questions

• How do I prove I have been trading for 12 months or longer?
  We would require proof to show trading from September 2022.  Thsi could include a certificate of incorporation from Companies House, tax return or a bank statement showing business transactions from September 2022 onwards. 
• What counts as match funding?  How do I evidence this? 
  Match funding has to be funding that has been secured already and cannot be speculative.  This could include cash from business reserves, a bank loan, or another grant funding scheme.  Evidence could be in the form of an award letter from a grant funding scheme or bank, or a bank statement with appropriate cleared funds. 
• How much match funding do I need? 

  You are required to have a total of 50% of your project costs as match funding, e.g.

  Total Project costs £200,000 

   

  Match funding £100,000

  Grant request £100,000

• Do I need a business account? 
  Yes if successful in obtaining a grant, we require the bank account that the grant is paid into to match the details of the applicant business.

• Is it one application per business or can I apply for multiple projects? 

   

   

  We are only accepting one application per business.  Multiple elements of a project can be included on one application if they are complementary but we will only consider one application per business for this grant. 

• How will I show the project achieved the outcomes I said it would? What evidence will you request?
  If successful in obtaining a grant, officers will send you a list of suggested evidence you could use to satisfy your outputs and outcomes.
• I'm a small business, I cannot afford to pay for the item outright.  Is there any way around this? 
  Whilst we generally pay our grants retrospectively, we can consider different payment percentages of the grant on a case by case basis.
• When is the grant closing for applications? 
  The grant scheme doesn't presently have a closing date, but we are giving out the grant on a first come first served basis.  Once the grant funding has been fully allocated to projects, we will be closing for applications.  
• I have submitted an application, when can I start my project? 
  You cannot start your project until you have had it approved and have received a funding letter from us.