Sandra White MSP for Glasgow Kelvin

ScotGov’s Covid19 Business, Self-Emplyed, and Creative Sector Support Doubled

Scroll down to content

Additional £45m to support pivotal businesses.

A fund launched last week to provide grants for small and medium-sized businesses affected by coronavirus (COVID-19) is to be doubled from £45m to £90m.

The First Minister announced the increase in the Pivotal Enterprise Resilience Fund to help meet existing demand.

The aim of the fund, which is managed by Scottish Enterprise, Highlands and Islands Enterprise, and South of Scotland Enterprise, is to provide grants to SMEs which are vital to Scotland’s local or national economy but have been made vulnerable by this crisis.

While the large volume of received applications are being evaluated, the application process is currently being paused. Payments will still be made to businesses within 10 working days of receiving completed applications and the two hardship funds for the newly self-employed and the creative, tourism and hospitality sectors remain open for applications.

Cabinet Secretary for Economy Fiona Hyslop said:

“This extra £45m is a direct response to feedback from businesses. It demonstrates our determination to support pivotal businesses which are suffering, through no fault of their own.

“This package of funding will reach businesses in need – at pace – and continues our commitment to ensure every penny of the additional business money that has come to Scotland is passed on to support our economy.”

Sandra White MSP for Glasgow Kelvin said:

“I welcome the announcement of additional funding which will double the Scottish Government’s existing Covid-19 support for small businesses, those who are self-employed, and the tourism and creative sectors.”

“As part of an overall £145m support package to date, this extensive package of support contributes £45m of new funding to help businesses and individuals in need as a result of the Covid19 disruptions”

“You can find out more about the funding at findbusinesssupport.gov.scot”

Background:

More details on find can be found at findbusinesssupport.gov.scot

The funds which make up the £145 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.

£20 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 relief with grants of up to £25K.

£90 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 in the not-for-profit sector.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s