The Scottish Government has announced further funding to help businesses affected by COVID-19.
Last month the Scottish Government laid out plans for a £1 billion Business Support Fund which provided rates relief for owners of non-domestic properties and set out a grant scheme for businesses which aims to protect jobs and prevent business closures.
This second phase of funding makes a further £220 million worth of grants available to Scottish businesses.
The existing Small Business Grant scheme enables ratepayers of small businesses in Scotland that claim Small Business Bonus Scheme Relief, Rural Relief, Nursery Relief, Business Growth Accelerator Relief and Disabled Relief to apply for a one-off £10,000 grant from their local authority. This latest funding package from the Scottish Government includes £120 million to extend this scheme to allow businesses to claim a 75% grant on all subsequent properties.
A further £100 million fund is also being made available to protect self-employed people, micro and SME businesses which are struggling due to the affects of the coronavirus outbreak. This fund aims to target those who are ineligible for other UK and Scottish Government schemes, such as the newly self-employed.
Applications for the £100 million will open at the end of April and businesses will be able to apply for the new Small Business Grant scheme from 5 May.
Further information on the additional support available from the Scottish Government can be found here.
For additional guidance contact Backhouse Jones on 01254 828300.