Help for businesses – Discretionary Fund 2 launches
The Discretionary Fund phase 2 is now open and available to small businesses and the self-employed based in Argyll 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.
- 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 Argyll 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