The second phase of the Small Business Grant scheme – which
extends grant support to all subsequent eligible properties - is
now open for applications, Finance Secretary has told the Scottish
Parliament.
Ms Forbes also announced a review to examine how Scotland’s tech
industry can help the economy recover.
The second phase of the Small Business Grant scheme ensures that
- in addition to existing grants of £10,000 or £25,000 for the
first property - businesses may now qualify for grants of £7,500
or £18,750 on all subsequent eligible premises.
In addition, retail, hospitality and leisure properties with a
rateable value up to £18,000 that do not qualify for the Small
Business Bonus Scheme, may now qualify for Small Business Grants.
These enhancements, announced in April, are worth an estimated
£120 million extra to businesses in Scotland.
Giving an update to the Scottish Parliament, Ms Forbes announced
a new short-life review – led by former Skyscanner Chief
Operating Officer - to make
recommendations on how Scotland’s thriving tech industry can help
with economic recovery.
She also re-affirmed the Scottish Government’s commitment to pass
on the latest £155 million of consequentials to local government
in full, and called for the Scottish Parliament to be given
additional fiscal powers to help address the challenges facing
Scotland’s economy.
Ms Forbes said:
“The Scottish Government is delivering a strong package of
business support worth around £2.3 billion, and I am pleased that
today marks the opening of the second phase of our Business
Grants Funding Scheme, increasing the eligibility for multiple
properties within the same business.
“Our actions have been welcomed by the private and third sectors
alike, and are making a real difference to people’s lives in
Scotland.
“I would like us to do more, but ultimately we are constrained
financially and through our limited devolved powers. Without the
flexibility to borrow we cannot provide further support to
individuals and businesses, which is why the UK Government must
now permit further fiscal flexibility to allow us to respond more
fully.
“Scotland’s tech scene is one of the most innovative, high growth
sectors we have and it will be critical to our economic recovery.
As Scotland seeks to emerge from lockdown and restart our economy
when the time is right, we will need that innovation more than
ever, and that is why I have invited to lead a
review that will recommend how we can harness the enormous
potential of this sector.”
Background:
The Small Business Grant Scheme is being administered by local
authorities. Businesses can get information on how to apply via
their local council.
The Scottish Government is delivering a package of business
support worth around £2.3 billion, which includes:
- £50 million to effectively freeze non-domestic rates at
2019-20 levels – the only country in the UK to do so
- £824 million to provide 100% rates relief to properties in
the Retail, Hospitality, Leisure and aviation sectors
- £1.3 billion of support made available through two grant
schemes, for Small Business and for Retail, Hospitality and
Leisure
- a £100 million package of additional grant support for SMEs
and newly self-employed people
