£1 billion Business Support Fund opens for businesses in Scotland
Grants to help businesses with COVID-19 impact.
The Scottish Government Coronavirus Business Support Fund is being administered by Local Authorities. The ratepayers of businesses located in a non-domestic property that is on 17 March;
- in receipt of the Small Business Bonus Scheme (SBBS);
- in receipt of Rural Relief; or
- eligible for SBBS but in receipt of Nursery Relief or Disabled Relief;
can apply to access a support fund and receive a one-off small business support grant of £10,000. This is only available if they were the ratepayer for a premises occupied for that business use on 17 March 2020.
A separate one-off grant of £25,000 is available to the ratepayers of businesses in the retail, hospitality, leisure sectors operating in a premises with a rateable value of £18,001 or up to £50,999. This is the rateable value as at 17 March 2020 regardless of any subsequent reduction in rateable value due to an appeal. This is only available if they were the ratepayer for a premises occupied for that business use on 17 March 2020.
Eligible ratepayers can apply for a one-off grant payment as detailed below up to 31 March 2021. Only one grant is allowed per ratepayer regardless of the number of premises held.
These grants are aimed at helping keep companies in business and keep productive capacity so that they can recover. Their intention is to protect jobs, prevent business closure and promote economic recovery.
Find out how to apply here. The deadline for applications is 31 March 2021.