Business Revitalisation Grant
The Business Revitalisation Grant is being made available by Somerset West and Taunton Council as part of the support that has been provided to businesses through the Covid-19 Additional Restrictions Grant.
Grants of up to £10,000 are available to businesses that remain directly or indirectly impacted by Covid Restrictions. The fund is aimed at businesses that support 15 or more employees. The Council is particularly keen to support those businesses and organisations that were unable to be fully compensated through the support provided by previous Government COVID Support packages.
Applications are invited from mid-October 2021. Businesses from any sector can apply. The key qualifying criteria is set out below:
Key Eligibility Criteria
The business must:
- Be the current ratepayer and be in occupation of business rated premises in the Somerset West and Taunton area throughout the last 12 months
- Have a business rateable value on the premises occupied in the SWT area of £15,001 or over
- Employ at least 15 people (including part time staff and those who are / have been furloughed)
- 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 its operations due to the impact that Covid19 has had on its market, customer base or supply chain.
Further clarifying points:
- Access to the scheme is for businesses with business rates accounts only
- National chains will not be eligible (although franchised businesses may apply) (for the purposes of this grant we will accept applications form businesses that have 5 branches/outlets/premises or fewer nationally. National chains are defined as 6 or more branches/outlets/premises and are not eligible to apply)
- The majority of business premises and employees must be located in Somerset. The main business premises must be located within Somerset West and Taunton area
- Applicants which 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.
- The application window will open in mid-October 2021 and is expected to close at 5pm on Mon 1st November 2021. However, the Council reserves the right to close the scheme earlier should the scheme be over-subscribed.
The Council will take a range of factors into account when deciding the level of grant award including (but not limited to):
- The level of fixed costs
- The potential for loss of employment
- The level of Covid support (if any) that the business has received since 31 Dec 2020
- How the business has been affected by Covid restrictions
- The potential effect on the local economy or on services provided to residents within the Council area.
Applications should be made through the online form at the link below.
Please read the guidelines on this page and at the start of the online application process before completing the application form. Before you start, ensure that you have electronic copies of the documentation that we request i.e a document that clearly evidences the company bank account details and a copy of a document evidencing your business rates account.
The application window will open in mid-October 2021 and is expected to close at 5pm on Mon 1st November 2021. However, the Council reserves the right to close the scheme earlier should the scheme be over-subscribed.
We will aim to contact all applicants within 10 working days of the closure date to let you know whether we are able to provide support and if so, to what extent that may be.
Should you have any further queries regarding the scheme you can contact us on email@example.com.