This fund will assist businesses to develop new solutions to counter the economic impacts of the pandemic, including but not limited to digital adoption, energy efficiencies and Net Zero transition, building adaption and workforce development.
Engagement with local businesses during the Covid restrictions has highlighted a number of areas of concern impacting their viability, immediate financial distress, changes to operating practices and additional regulations have left many businesses with inadequate financial power to adapt to the changing landscape. Additional challenges created due to lack of income and costs associated with new ways of working, development of new processes to reflect new markets, upgrading systems to reflect new regulations and inability to diversify.
As a direct result of the restrictions, many businesses have experienced their markets reduce, supply chain disruption and a requirement to shift to a more digital offering.
The purpose of the fund is to support businesses who are not able, due to immediate financial pressures, to adapt to new ways of working or to make investment towards remaining competitive in a post Covid-19 economy.
Grants are tiered to the size of business, from £5,000 to individuals through to £30,000 for Medium sized businesses. Further information including the full criteria and online application form is available here. https://www.aberdeencity.gov.uk/services/coronavirus-covid-19/what-business-transition-fund
There is no deadline at this time but grants will be allocated on first come first served (pending eligibility).