Scottish Government’s £100m COVID-19 Business Funding Package Now Open

Scottish Government’s £100m COVID-19 Business Funding Package Now Open

Scotland’s Economy Secretary Fiona Hyslop has announced that grant funding for the newly self-employed who are suffering hardship because of the coronavirus (COVID-19) outbreak, and viable SMEs that are currently in distress, is now available.

The three funds which make up the £100 million support package are as follows:

The £34 million Newly Self-Employed Hardship Fund, managed by local authorities, will be allocated via £2,000 grants to the newly self-employed who are ineligible for UK Government support (as they became self-employed since April 2019) but are facing hardship.

The £20 million Creative, Tourism and Hospitality Enterprises Hardship Fund, managed by the Enterprise Agencies with support from Creative Scotland and VisitScotland, is for small and micro creative, tourism and hospitality companies not in receipt of business rates relief. Grants of up to £25,000 are available.

The £45 million Pivotal Enterprise Resilience Fund, managed by the Enterprise Agencies, providing bespoke grants and wraparound business support to viable but vulnerable SMEs that are vital to the local or national economic foundations of Scotland.

Ms Hyslop said:

‘Our economy has been hit hard by this crisis and previously profitable businesses have seen demand dry up overnight.

‘Our support will help alleviate the hardship those individuals and companies are facing.’

The three separate funds are now open to applications and will begin to pay out grants in early May.

Further details of each fund can be accessed on GRANTfinder and via the FindBusinessSupport website.

More information about this funding opportunity and the application process is available on the GRANTfinder funding information platform. GRANTfinder provides up-to-the minute content, insight and analysis on funding news. To find out more about how GRANTfinder can keep you in the know, and subscription fees, contact us today.