Heads of the Valleys Business Seed Capital Fund Grant
This is a flexible grant scheme delivered through a partnership across the Local Authorities of Blaenau Gwent, Caerphilly, Merthyr Tydfil, Rhondda Cynon Taf and Torfaen. It is designed to help residents of the Heads of the Valleys set up a full-time business for the first time, also existing business looking to develop and grow where projects do not meet the criteria of other grant support currently available.
Heads of the Valleys Business Seed Capital Fund provides financial support to help eligible businesses located in the Heads of the Valleys area set up or expand. The scheme is designed to complement existing sources of funding.
The HOV Business Seed Capital Fund is a flexible scheme delivered through a partnership across the Local Authorities of Blaenau Gwent, Caerphilly, Merthyr Tydfil, Rhondda Cynon Taf and Torfaen. It is designed to help businesses in the Heads of the Valleys set up or expand, by providing support for new capital equipment.
Generally businesses in all business sectors may be considered for support (excluding retail). These may be new or existing businesses. The business must be full-time and established in the Heads of the Valleys area.
Eligible costs could include:
- Capital Equipment
- ICT Equipment
- Development of websites
- Marketing
- Building works to business premises
- Expenditure incurred prior to approval is not eligible.
Proof of expenditure such as bank statements will be required.
Funds of up to 50% of eligible project costs to a maximum of £2,000. Award is entirely at the discretion of the relevant Local Authority.
The applicant must provide a business plan with a minimum of one-year cash flow forecast and projected profit and loss. Two comparable quotes are also required.
The business must provide full time employment for the applicant (minimum of 30 hours per week)
Proof of expenditure is required for all items claimed. A business bank account must be set up.
