Ruth Maguire MSP has welcomed the announcement of a significant top-up to the grant support available for hospitality, retail and leisure businesses across Scotland closed by level 4 restrictions will be paid following an announcement by Finance Secretary Kate Forbes.
Further to the grants businesses receive through the Strategic Business Framework Fund, eligible businesses will also get a one off grant of:
- £25,000 for larger hospitality businesses on top of the 4-weekly £3,000
- £6,000 for smaller hospitality businesses on top of the 4-weekly £2,000
- £9,000 for larger retail and leisure businesses on top of the 4-weekly £3,000
- £6,000 for smaller retail and leisure businesses on top of the 4-weekly £2,000
In the majority of cases, qualifying businesses who have already applied for the 4-weekly payment from the Strategic Framework Business Fund will get an automatic top-up.
For the majority, this top-up will be combined with the next tranche of payment for the Strategic Framework Business Fund due to go to businesses on 25 January.
Businesses that haven’t yet applied for either of these funds should submit an application as soon as possible through their local authority website. Applications are now open.
The SNP MSP for Cunninghame South said: “I encourage all eligible businesses in North Ayrshire who have not yet applied for this grant support to please do so.
“Our high streets have been hit hard by the economic fallout from the pandemic, this top up to the grant support being offered will be a financial lifeline to non-essential stores who are unable to trade under the current lockdown restrictions.
“The support being offered at the moment aims to mitigate the worst of the financial impact felt by businesses and leave our local economies in a better position to recover when we come out on the other side of this public health crisis.”
Finance Secretary Kate Forbes said: “Since the start of the pandemic Scottish Government support for business and the economy has reached almost £3 billion – more than a third of our total coronavirus (COVID-19) funding, demonstrating our commitment to provide as much help as we possibly can to our businesses.
“As promised, this additional support for hospitality, retail and leisure businesses will be available this month, in some cases doubling or tripling the amount of support we are providing. Applications are open now and payment will be made this month.
“Crucially this essential funding will also help to close the gaps in UK wide support for these impacted sectors and our one-off support for larger hospitality premises of £25,000 is considerably more generous than the £9,000 grant on offer in England.
“Of course we are acutely aware that this support can never compensate for the full impact on business, but we must work within the resources that are available to us, and we continue to respond to the evolving economic challenges arising from the pandemic.”
- larger hospitality businesses are those with a rateable value of £51,001 or more
- smaller hospitality businesses are those with a rateable value of £51,000 or less
- larger retail and leisure businesses are those with a rateable value of £51,001
- smaller retail and leisure businesses are those with a rateable value of £51,000 or less
For more information visit Find Business Support