Application Deadline: Monday 22nd November at 10am.
Businesses located in South Somerset that have been adversely impacted by Covid 19 over the past year can apply for the Council’s Business Revitalisation Grant.
Grants of up to £10,000 are available to eligible businesses to boost their recovery and revitalise their business.
The fund is designed to support businesses that employ 10 or more individuals and have a business rates valuation of £15,001 or over. Businesses from any sector can apply.
The District Council is keen to receive applications from businesses who have not been able to access the support in proportion to the business losses during the national restrictions through the pandemic. It is also keen to support businesses that are still unable to operate at full capacity due to implications from Covid 19.
All applicants will need to apply via the online form below. The application window opened at 11.30 am on Thursday 11th November and is expected to close at 10am on Monday 22nd November.
Should the scheme be over-subscribed the closure date may be brought forward, so businesses are encouraged to apply early on to ensure the Council is able to consider their application?
The Business Revitalisation Grant is the latest discretionary scheme being made available by South Somerset District Council as part of the Additional Restrictions Grant allocated by the Central Government. It is the Council’s intention that further grant schemes will become available in the coming weeks, including a scheme that supports business improvements and innovation.
Eligibility
- Be the current ratepayer and be in occupation of business rated premises in the South Somerset area throughout the last 12 months (November 2020)
- Have a business rateable value of £15,001 or over, within the South Somerset area and occupy the premises concerned
- Employ at least 10 people (including part time)
- Demonstrate proven financial difficulty – at least 25% decrease in turnover as a result of the Covid crisis
- Be viable and not failing, but require some temporary additional support to stabilise their operations due to the impact that Covid19 has had on its market, customer base or supply chain.
Benefits
Grants of up to £10,000 are available to eligible businesses to boost their recovery and revitalise their business.
The fund is designed to support businesses that employ 10 or more individuals and have a business rates valuation of £15,001 or over. Businesses from any sector can apply
Application Procedure
- Access to the scheme is for businesses with business rates accounts only
- National chains are not eligible
- The majority of business premises and employees must be located in Somerset. The main business premises must be located within South Somerset
- Applicants that have previously received one or more Covid business support grant payment will not be excluded from the scheme and may apply
- A maximum of one Business Revitalisation Grant can be claimed per business (do not submit multiple applications if the business has more than one business premises).
- Awards must be permissible in terms of business subsidy rules and guidance (formerly state aid)
- The business must have the intention to use the money to continue its business operations
- Where an award is made, we expect the value of grant award will be between £5,000 – £10,000. However, the council retains the right to amend the value of the award in the event of over or under subscription.
- Under no circumstances can the grant awarded be used to pay for employee wages or salaries; this is not a wage substitution scheme.
- For the purposes of this grant scheme, a business is considered to be trading if it is engaged in business activity. This should be interpreted as carrying on a trade or profession, or buying and selling goods or services in order to generate turnover.
- Fully constituted businesses in liquidation, dissolved, struck off or subject to a striking-off notice are not eligible under these conditions.
Official Website: South Somerset Business Revitalisation Grant
