Application Deadline: 5.00 pm on 15 December.
Medium-sized businesses did not receive any support under our ARG 2 and 3 discretionary grant schemes as support were aimed at micro and small businesses. Following the completion of ARG 3, there is a very small amount of grant funding available to further help Merton businesses.
Medium-size businesses are an important group for the recovery from Covid-19 and the future of the High Street in Merton and we want to start engaging with them. To achieve this we will establish a database of businesses for future work and development as part of the outcomes of Your Merton.
Whilst the funding available is very small and likely to be a small token figure, we would like to invite all medium-sized businesses to register to be on the database. The registration process will be kept as simple as possible but a small amount of evidence will be required.
There will be a registration window of 21 days commencing 25 November which will close at 5.00pm on 15 December.
Eligibility
ARG4 is aimed at businesses with 50 to 250 staff.
• Definition of medium-sized business: Under the Companies Act 2006, a business must satisfy two or more of the following requirements
o Turnover: Not more than £25.9 million
o Balance sheet total: Not more than £12.9 million
o Number of employees: a headcount of staff of not more than 250
• To be eligible a business must have:
o Been trading prior to 1 January 2020
o Between 50 and 250 staff
o Salaried employees and not contractors or self-employed staff
o Met two or more of the criteria above, but one must be staffing numbers.
Application Procedure
The value per point will be ‘capped at’ the value in Phase Two i.e. £3,058. Again grants will be capped at the loss of income the business had. If the total value of grants to be paid based on the value per point of £3,058 exceeds the allocated funding then the value per point will be reduced proportionately.
The grant fund will be shared between all successful applicants using a points-based system.
Official Website: Merton Council’s Discretionary Grant Scheme
