“The Scottish Government has announced further details of the funding support that will be available for some of the businesses affected by the new coronavirus trading restrictions introduced last week.
If your business has been impacted, it's important that you act quickly. The new funds will only be open to applications for a very limited time - between 20 October and 3 November 2020.
There are two new funds:
The Business Closure Fund - Grants for businesses that have been required to close as a result of the new restrictions;
The Discretionary Business Hardship Fund - Grants for businesses that have not been required to close, but are suffering substantial hardship as a result of the new restrictions or are having to operate in a restricted way.
Businesses that have been required to close are entitled to apply for a grant as follows:
£2,000 for those with a rvalue of up to and including £51,000
£3,000 for those with a rateable value of £51,001 and over
If a business has multiple premises that have had to close, then it can claim multiple grants to a maximum total of £15,000.
For the Discretionary Business Hardship Fund, businesses operating in a restricted way or experiencing hardship as a result of the new restrictions can apply for:
£1,000 if their premises has a rateable value of up to and including £51,000
£1,500 if their premises has a rateable value of £51,001 and over
Again, if a business has multiple premises that have been affected, then it can claim multiple grants. In this instance the maximum total is £10,000.
The Scottish Government has announced that priority is being given to the following types of businesses:
Hospitality businesses or gyms, required by these new regulations to operate in a restricted way and who are able to evidence a minimum 25% reduction in turnover from 9 to 25 October.
Producers/wholesale businesses based in Scotland supplying primarily short-life goods or produce to hospitality businesses affected by the regulations and whose turnover had dropped by a minimum of 25%
You will need to apply through your local council website. Applications will open at 9am on Tuesday 20 October 2020 and close at 5pm on Tuesday 3 November. This is obviously a very limited window of two weeks, so now is the time to get all your supporting evidence together, so you're ready to apply on Tuesday morning.”
More information can be found via: