Covid-19 support to firms passes £530m

More than half-a-billion pounds in support has been paid to Scottish businesses affected by the pandemic since November.

The Strategic Framework Business Fund had paid out £214 million by February 22, according to latest figures. Approximately 89% of this support went to small and medium sized businesses with a rateable value less than £51,000.

An additional £218m was paid out under the Hospitality, Retail and Leisure Top-Up fund up to February 26.

Information has also been published showing payments across nine sectoral schemes, including the Wedding Sector Fund which was only available in Scotland.

In total, businesses have received more than £533 million in grants since the introduction of the Strategic Framework on November 2.

Finance Secretary Kate Forbes said: “Since the start of the pandemic we’ve done everything in our power to protect people’s livelihoods, with business support accounting for over a third of total Covid-19 spend.

“We want as many businesses as possible to benefit from the funding we have made available, and I have confirmed that the Strategic Framework Business Fund will continue to support eligible companies into the next financial year.

“The recent Scottish budget also provided certainty and stability to businesses by extending 100% nondomestic rates relief for retail, hospitality, leisure and aviation businesses for the whole of next financial year.

“This is more generous than the equivalent reliefs available in other UK nations.”