Businesses across the country have now been awarded more than
£100 million through the Scottish Government Business Support
Fund.
The scheme, announced by Cabinet Secretary at the end of April, has to
date helped more than 2,500 businesses and 4,160 self-employed
people.
Now the fund, which started with £100 million of grant support
for individuals and companies affected by COVID-19 and has since
been topped up to £185 million, is being expanded.
Small B&Bs, who were ineligible for other support due to not
having a business bank account, will be able to apply for a share
of £3 million of funding which has been re-purposed from the
Newly Self-Employed Hardship Fund.
This funding for small B&Bs will be administered by local
authorities and applications are expected to open on 15 June.
Economy Secretary said:
“On 30 April, we launched a £100 million package across three
business support funds offering targeted support to the creative,
tourism and hospitality sector, SMEs which are vital to their
local economies, and the newly self-employed.
“One month on and we have awarded more than £104 million of
grants supporting over 2,500 businesses and 4,160 self-employed
people.
“We have topped up these funding streams by a further £85 million
given the volume of applications received, and these
additional funds will enable us to reach more businesses in need.
“Today I announced that £3 million of the Newly Self-Employed
Hardship Fund allocation will be re-purposed to support B&Bs
who were ineligible for other support due to not having a
business bank account. These businesses are an important part of
Scotland’s tourism sector, particularly in rural areas, yet were
not eligible for support from the hardship fund. I hope this
change will help ensure they are ready to welcome visitors once
again as soon as circumstances allow.
“This support is not available to equivalent businesses in the
rest of the UK and is another example of how the Scottish
Government is reacting to meet the needs of businesses during the
coronavirus pandemic.”
Background:
The Pivotal Enterprise Resilience Fund and the Creative, Tourism
& Hospitality Enterprises Hardship Fund have now closed to
applications.
The Newly Self-Employed Hardship Fund remains open.
Businesses can visit FindBusinessSupport.gov.scot for
the latest information on funding opportunities.
The funds which make up the £185 million support package are as
follows:
- £34 million Newly Self-Employed Hardship Fund, managed by
Local Authorities, allocated to the newly self-employed who are
ineligible for UK support (as they became self-employed since
April 2019) but are facing hardship. As of 15 June, £3 million of
the Newly Self-Employed Hardship Fund allocation will be
re-purposed to support B&Bs who were ineligible for other
support due to not having a business bank account
- £30 million Creative, Tourism & Hospitality Enterprises
Hardship Fund, managed by the Enterprise Agencies with support
from Creative Scotland and VisitScotland for small and micro
creative, tourism and hospitality companies not in receipt of
business rates grants of up to £25K
- £120 million Pivotal Enterprise Resilience Fund, managed by
the Enterprise Agencies providing bespoke grants and wrap-around
business support to viable but vulnerable SMEs who are vital to
the local or national economic foundations of Scotland
The Scottish Government is also providing £1 million to top up
Creative Scotland’s Bridging Bursaries scheme in the
not-for-profit sector.
