Small business Covid fund opens

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A new grant scheme has opened, aimed at helping small businesses and the self-employed in Argyll and Bute facing short-term financial challenges in the Covid-19 pandemic.

The business discretionary fund is focused on businesses which need short-term financial help to continue actively trading and cannot be used to replace lost income for a business that still has sufficient cash reserves to meet its needs.

To be eligible, an Argyll and Bute-based business must be:

  • Negatively impacted by the pandemic and facing short-term financial challenges  with income in the period October to December 2020 at least 30 per cent lower than in the equivalent period in 2019;
  • Ineligible for any other Covid business grant funds announced by the Scottish Government since October 1, 2020;
  • The source of at least 33 per cent of its total income for the 12-month period ending March 31, 2020;
  • A micro or small business – with fewer than 50 employees – and either a limited company, partnership, sole trader, trust, community interest company or Scottish Charitable Incorporated Organisation;
  • Trading prior to March 17, 2020, and now either open or temporarily closed due to the impact of Covid-19;
  • Not in receipt of an enforcement notice as a result of breaching Covid-19 regulations.

Visit Argyll and Bute Council’s website – www.argyll-bute.gov.uk/forms/business-discretionary-fund – for full details about the scheme.