The Finance Secretary today confirmed that the Scottish Government is continuing to adapt to changing circumstances to try and offer small businesses financial support as the Covid-19 pandemic continues.
This came after it was confirmed that the Scottish Government had provided funding support of around £35 million to businesses in North Ayrshire, including over £21 million from the Business Support Grant Scheme.
In a virtual meeting of the Scottish Parliament, Ruth Maguire MSP asked the Finance Secretary if long term support could be offered for small businesses which face financial hardship as a result of the coronavirus.
The MSP for Cunninghame South said: “Whilst supermarkets remain open and selling a range of products, small retailers across my constituency, indeed, across Scotland, are experiencing significant challenges as a result of coronavirus.”
Finance Secretary Kate Forbes confirmed: “Our challenge is that the Scottish Government cannot borrow, so we’re reliant on the UK government providing further funding to meet those ongoing needs.
“I continue to engage with the Treasury in the hope that additional funding will be forthcoming and we can extend our support.”
Commenting further, Ruth Maguire said: “The long term economic impact of this pandemic will no doubt be a source of worry for many small business owners in North Ayrshire.
“Support to ease the financial pressures faced by those small businesses is essential. I welcome the Finance Secretary’s comments that efforts are ongoing to secure further funding from the Treasury to provide this support.”