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April 24th 2020

Coronavirus: Business Hardship Support Fund

The Scottish Government has confirmed that grant funding for the newly self employed suffering hardship and SME's in distress will be available in the coming days.

Three funds have been established:

  • a £34m Newly Self Employed Hardship Fund, managed by local authorities, will provide £2,000 grants to newly self employed people facing hardship;
  • a £20m Creative, Tourism & Hospitality Enterprises Hardship Fund, which is managed by local enterprise agencies in partnership with Creative Scotland and Visit Scotland for creative, tourism and hospitality companies not in receipt of business rates relief; and
  • a £45m Pivotal Enterprise Resilience Fund, again managed by local enterprise agencies for vulnerable SMEs who are considered "vital to the local or national economic foundations of Scotland".

The grant funding is intended to be open for applications by the end of April, with funds paid in early May.

Further details here...

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