About the grant
The combined effects of the COVID-19 pandemic, increasing costs, changed trading conditions, changes to operating practices and additional regulations have left many businesses facing a struggle to adapt and thrive.
Shetland Islands Council has established a 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.
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.
Grants will support up to 75% of project costs, and businesses will be expected to provide details of how proposals will be match funded. The support provided will seek to ensure investment in new ways of working are in line with the Council’s net zero target.
Grants will be paid in arrears, on the basis of expenditure incurred on approved projects. Applicants must provide adequate evidence that costs have been incurred in order to make a claim.
The fund will close to applications as soon as all funds are committed, or on 31 January 2023, whichever comes first.