£120 million support package for Scots firms opens
A £120 million support package to help Scots firms hit by the impact of the Covid-19 lockdown is open to applications, Finance Secretary Kate Forbes has confirmed.
The second phase of the Small Business Grant scheme means that - in addition to existing grants of £10,000 or £25,000 for the first property - businesses can apply for grants of £7,500 or £18,750 on all subsequent eligible premises.
Hospitality, retail and leisure properties with a rateable value up to £18,000 that do not qualify for the Small Business Bonus Scheme, may also now qualify for Small Business Grants.
Ms Forbes confirmed the extension as she unveiled plans for a review to examine how Scotland’s tech industry can help the economy recovery.
She 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.”
David Lonsdale, Director of the Scottish Retail Consortium, said the grants provide “urgently needed support” for smaller shops.
“With this extension now open it’s vital that local authorities swiftly process grant applications to allow retailers access to the cash they need to keep afloat and aid high streets across Scotland, which have been left reeling by coronavirus, “he said.
“It’s vital that government continues to work closely with business over the coming weeks, including developing a clear plan to allow retailers to return to trading when it’s safe for them to do so.”
Andrew Mcrae, Federation of Small Businesses Scotland policy chair, added: “It is our understanding that businesses with multiple properties have to re-apply to their local authority for support. While we’re urging councils to make contact with eligible firms, business owners should also approach their council directly.”
Businesses can get information on how to apply from their local council.
The Scottish Government says it 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 and £824 million to provide 100 per cent rates relief to properties in the Retail, Hospitality, Leisure and aviation sectors.
The tech review will be led by former Skyscanner Chief Operating Officer Mark Logan and look at how the industry can help with economic recovery.
“Scotland’s tech scene is one of the most innovative, high growth sectors we have and it will be critical to our economic recovery,” Ms Forbes added.
“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 Mark Logan to lead a review that will recommend how we can harness the enormous potential of this sector.”