Deadline: 31-Jan-23
The Shetland Islands Council is accepting applications for its Business Transition Fund to support and incentivise businesses to adapt to new ways of working or make investment to remain competitive.
The Business Transition Fund is financed from funding made available through the Scottish Government’s Local Authority Covid 19 Economic Recovery Fund.
What are examples of business transition?
- These are some examples of the type of business transition proposals which may be eligible for support. These examples are purely for illustration and are not intended to be an exhaustive list as other forms of transition may be eligible:
- Many businesses have had to shift their business presence online to continue trading through restrictions, and may want to transition to a sophisticated online presence and platform, with greater automation to meet the needs of their current customer base. This will also enable them to grow a wider customer base in the future.
- As a direct result of the changes in trading activity during the pandemic many businesses may be seeking to upgrade or expand their premise. Examples may include upgrading ventilation systems, refitting to increase capacity or diversify sales, or new machinery and plant to increase efficiency and or production.
- Businesses may be operating from premises which are not energy efficient, resulting in higher utility bills. A business may want to improve efficiencies and lower running costs by making improvements to the energy efficiency of lighting, windows or walls, installing low carbon energy options including solar panels, small-scale wind turbines and air source heating. Businesses may also wish to transition to more efficient or environmentally friendly machinery and equipment.
- Business transition may include a need for specialist workforce development to safeguard jobs and ensure investment can successfully deliver transition. This may include training in the use of specialist machinery, or digital upskilling for new systems and processes.
Funding Information
- The Business Transition Fund will offer grants of between £1,000 and £10,000 for businesses to invest in adaptations and new ways of working eg implementation of new online systems, new machinery, investment in green technology to reduce costs, etc.
Eligibility Criteria
- The Business Transition Fund will be open to Limited Companies (including Scottish Charitable Incorporated Organisations and social enterprises), Sole Traders, Trusts, Partnerships, Community Interest Companies, freelancers or the self-employed.
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Successful applicants must:
- be micro or small-sized enterprises (50 employees or fewer)
- have been actively trading for at least 12 months prior to application
- be permanently located in Shetland
- provide a summary of the project and detail how the Business Transition Fund will help the business address specific, immediate priorities, enabling the business to adapt or modify their premises or operating model in order to address new challenges in their trading environment
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provide proof of registration for Non-Domestic Rates (NDR) or Council Tax
- if applicants are the tenant of a property and are not directly liable for NDR, they may still be eligible provided that they can provide evidence of a suitable lease/rental agreement, and that the property is on the valuation roll
- have not breached wider COVID regulations/requirements leading to receipt of an enforcement notice as a result of breaching Covid 19 Regulations
- in the case of the self-employed, confirm that self-employment makes up at least 50% of their income from employment
- not be connected to a tax haven, as set out in the Coronavirus (Scotland) (No 2) Act 2020
- have a business bank account into which grant payments will be made (for self-employed applicants discretion may be applied as long as there is clear evidence of trading from personal bank statements provided)
- not be in administration, insolvent or where a striking-off notice has been made
- not be an undischarged bankrupt or someone with bankruptcy proceedings pending against them
- be UK residents or those ‘granted leave to remain’ in the UK (applicants will be required to provide the Council with evidence that they are UK residents or have leave to remain, eg passport, biometric residence permit or letter from the Home Office)
- not have already received the maximum permitted subsidy allowances
For more information, visit Shetland Islands Council.
For more information, visit https://www.shetland.gov.uk/grants/shetland-business-transition-fund