New Grant For Local Projects19/10/2020
Business Round-Up – 19 October 202020/10/2020
Businesses in Inverclyde impacted by the current block of coronavirus restrictions can apply for grants of between £1,000 and £3,000 from today.
Inverclyde Chamber of Commerce is urging hospitality firms and other operators eligible for help to apply quickly, as the scheme is only open until November 3.
These new and temporary business support funds will be administered by Local Authorities, providing one-off grants to businesses directly impacted by the restrictions implemented on 9 October 2020.
Further details of this funding can be found below:
- A COVID-19 Restrictions Fund will be available to hospitality and other businesses required to close (except for takeaway) by these new restrictions regulations;
- It operates as a two-tiered scheme, with a smaller grant of £2,000 for businesses with a Rateable Value (RV) of under £51,000 and a larger grant of £3,000 for those businesses with a RV over £51,000;
- An upper limit of £15,000 in total will apply to any eligible business operating multiple premises;
- At the same time, Local Authorities will invite applications for a business hardship fund – with payments of £1,000 or £1,500, dependent on Rateable Value – to support some businesses that remain open but are still significantly impacted by the restrictions,
- including those in the direct supply chains of firms that must close; and
- An upper limit of £10,000 will apply in total to any eligible business operating multiple premises.
The first round of applications are targeted on:
- Hospitality businesses and some gyms, required by these new regulations to close or operate in a restricted way and able to evidence a minimum 25% reduction in turnover during the brake period;
- Producers/wholesale businesses based in Scotland supplying primarily short-life goods or produce to hospitality businesses required by the regulations to close or operate in a restricted way and able to evidence a minimum 25% reduction in turnover during the break period.
- For clarity, retail and businesses that provide takeaway food as the core and established the basis of their operations are not eligible for these closure or hardship funds.
How to apply
Applicable businesses should apply directly through Inverclyde Council – click here.
Applications will close on Tuesday 3rd November at 17:00.