The Discretionary Fund phase 2 is now open and available to small businesses and the self-employed based in ¾ÅÐãÖ±²¥ and Bute. The fund is open to businesses who have suffered from the impact of the pandemic and who have not been in receipt of any COVID-19 related business support funds since 1 October 2020.
The criteria is different from the previous Discretionary Fund. The Fund is now available to businesses with fewer than 250 employees (previously 50), businesses who have suffered 10% loss in income (previously 30%) and to businesses which were created between 17 March 2020 and 1 October 2020 (previously ineligible).
Details on how to apply can be found on the council website. The closing date for applications is 16 May 2021.
Applicants must:
- Must not be in receipt of any grant monies from Scottish Government COVID grant funds launched since 1 October 2020
- Business/self-employment must provide at least 20% of total income for the applicant (prior to COVID)
- Business with fewer than 250 employees and either a Limited Company, Partnership, Sole Trader, Trust, Community Interest Company or Scottish Charitable Incorporated Organisation
- Income in the year ending 31 March 2021 must be at least 10% less than income in the year ending 31 March 2020 (except for businesses established after 17 March 2020)
- Must confirm that the business was trading was either trading at 17 March 2020 or is a new business established between 17 March 2020 and 1 October 2020 (inclusive)
- Must confirm that funding is required to help the business continue trading as opposed to replacing lost income for a business that still has sufficient cash reserves to meet current needs.
- Not in receipt of an enforcement notice as a result of breaching COVID-19 Regulations
- Must be registered for NDR (if have business premises) or Council Tax (if home or mobile based) at an ¾ÅÐãÖ±²¥ and Bute address
- Not applied for support from any other Local Authority Discretionary Fund
- Business is not connected to a tax haven, as set out in the coronavirus (Scotland) (No 2) Act 2020