Coronavirus Business Update

Teignbridge District Council sent this bulletin at 09-12-2020 05:00 PM GMT

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  Business Brief

Business Coronavirus Update - 9 December

Businesses can keep up to date on all Government Covid-19 support schemes via the GOV Business Support website. We are also keeping our TDC Business Support page up to date as and when further details from Government emerge. You can also follow us on Twitter @TDC_Business

Click here for a summary of all TDC grant schemes

Additional Restrictions Grant

Status: Live

The Additional Restrictions Grant (ARG) scheme is now live. This scheme provides local councils with grant funding to support:

  • Businesses that were required to close (between 5 Nov and 2 Dec) but which are not registered for business rates.
  • Businesses that did not have to close but which were severely impacted by the national restrictions (between 5 Nov and 2 Dec). 

Businesses that were required to close but which ARE registered for business rates are not eligible for this scheme, as they are instead eligible for the Local Restrictions Support Grant (C) scheme.

Find out more about the scheme and apply today online. 

Tier 2 Grants

Status: Coming soon

A new scheme for businesses severely impacted by the Tier 2 restrictions is currently being developed. 

The scheme will allow businesses to receive grants on a rolling basis for every 14 days the district is subject to Tier 2 restrictions. Once the scheme goes live, payments for previous 14 day periods will be backdated. 

Another Business Brief will be issued when this scheme goes live.

Gap Grants

Status: Coming soon

The Gap Grant Scheme is a specialist grant scheme designed to assist businesses facing severe financial difficulty due to cash-flow issues.

The scheme is not currently live, but businesses who meet the below criteria can email us to express their interest in the scheme.

Businesses must:

  • Employ at least 10 employees on PAYE (businesses with fewer than 10 employees will be considered in exceptional circumstances)
  • Be eligible for or already received either a Local Restrictions Support Grant or Additional Restrictions Grant
  • Be able to evidence the business was not in financial distress prior to the COVID-19 outbreak
  • Be able to evidence how much grant funding is required to cover their financial gap between the beginning and end of national/local restrictions
  • Be able to explain why financial support cannot be obtained from an alternative source, like a bank for example

Once the scheme goes live, those who express an interest will be asked to fill out an application form and provide supporting evidence.