20 Aug Aberdeen City Council Discretionary – Business Support Fund 3

A third round of discretionary business support funding has been launched by Aberdeen City Council to support local business recovery.

The aim of this fund is to help with short-term issues experienced by businesses struggling due to coronavirus restrictions. Priority for this third round of funding will be given to tourism, hospitality, and leisure businesses. This covers both face-to-face business and supply chains.

Eligible Aberdeen companies will be able to apply for a one-off grant of between £2,500 and £15,000, provided they can demonstrate significant losses to profits because of the pandemic.
To check eligibility and apply visit:

https://www.aberdeencity.gov.uk/services/coronavirus-covid-19/covid-19-discretionary-business-fund

Exclusions will apply to companies that are in administration, insolvent or have been struck off the Companies House register. These exclusions will also apply to companies that have received substantial assistance to date and those that have exceeded the permitted subsidy allowance already. The full list of exclusions is available at the above link.

Business Transition Fund
There is also a new Business Transition Fund being set up with the aim of supporting businesses to build back from the impacts of the pandemic, focusing on solutions such as improving digital resilience, physical adaption, net zero improvements/energy efficiency and other interventions which will support their recovery as well as help them move forward by attracting and retaining talent.
The focus will be to support businesses who, due to financial pressures of the pandemic, are unable to adapt to the new ways of working or make investments that will allow them to remain competitive in the post Covid-19 economy.

Up to £30,000 will be made available for businesses who are affected financially by the pandemic, and therefore unable to implement the changes required going forward. This includes implementation of new systems, new ways of working, new plant, investment in green technology to reduce costs and create greater efficiencies.
Interest can be registered at: businessgrowthteam@aberdeencity.gov.uk

Staying up to date

The above developments are constantly changing and we will provide updates as quickly as possible through our various channels.

The ethos at Infinity has always been that we are not just your accountants – but your partners in business and in these difficult times, this has never been more important. We want to assure you all that we are doing everything we can to help you and should you have any questions, big or small, please get in touch.

We are here to help.

We will be releasing various documents on support and advice through various channels. Please connect with our team on LinkedIn and Twitter by using the following links:

Simon Cowie – Manging Director – https://www.linkedin.com/in/simon-cowie-ab36714b/
Greg Houston – Associate Director – https://www.linkedin.com/in/greg-houston-95900a42/
Alex Graham – Client Relationship Manager – https://www.linkedin.com/in/alex-graham-b78390138/
Bruce Giles – Client Relationship Manager – https://www.linkedin.com/in/bruce-giles-189a4b62/
Mark Rhynas – Tax Manager – https://www.linkedin.com/in/mark-rhynas-att-1712265b/

LinkedIn – https://www.linkedin.com/company/infinity-partnership-limited/
Twitter – https://twitter.com/InfinityABDN