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Boost for Business Revitalisation
13 October 2021 : Council news, Business
Businesses in the Somerset West and Taunton area that have borne the brunt of Covid restrictions this year may be able to benefit from the Council’s Business Revitalisation Grant which is being launched today.
Grants of up to £10,000 are available as a boost for key businesses that have been directly or indirectly impacted by Covid restrictions throughout the year.
The fund is aimed at businesses that support 15 or more employees. Businesses from any sector can apply. The key qualifying criteria is set out below:
The business must:
- Be a business ratepayer in the Somerset West and Taunton area on premises with a rateable value of £15,001 or over
- Employ at least 15 people
- Demonstrate proven financial difficulty – at least 25% decrease in turnover because of the Covid restrictions between 31 Dec and 12 April
The Council is particularly keen to hear from businesses and organisations for which it has been difficult to access support in proportion to their business losses during the periods of national restriction earlier this year, or those which are still struggling to operate at full capacity following the restrictions.
Cllr Marcus Kravis, Executive Member for Economic Development, said: “The fund aims to help businesses get back on track to boost productivity after this difficult year and is being targeted at businesses with 15 employees or more to help support employment retention within the District.
“Grants made available so far have proved invaluable to so many of our local businesses and we want to make sure that everyone who is eligible to claim has a chance to do so. I would encourage any business that thinks it may qualify to take advantage of this latest scheme and apply now.”
Full details of the scheme and the online application form can be found on the Council website.
All applicants will need to apply via the online form.
The application window opened on Wednesday 13 October and is expected to close at 5pm on Monday 1 November 2021.
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 Somerset West and Taunton Council. Since 5 November 2020, the Council has made 6,866 individual discretionary payments to 2,290 businesses totalling £6.15m, providing a lifeline to businesses affected by the coronavirus pandemic.