Local MSP and Economy Secretary Fiona Hyslop Welcomes Additional Support For Business
Local Constituency MSP Fiona Hyslop who is also the Scottish Government’s Economy Secretary, has been heavily involved in the development of the new scheme which provides around £220 million of further grants being made available for businesses – including the recently self-employed – to help them deal with the ongoing impact of the coronavirus (COVID-19) outbreak.
The new package of measures includes £120 million to extend the Small Business Grant scheme to ensure that, in addition to a 100% grant on the first property, small business rate payers will be eligible to a 75% grant on all subsequent properties.
A further £100 million fund is also being made available to protect self-employed people and viable micro and SME businesses in distress due to COVID. This fund will be channelled through local authorities and enterprise agencies to target newly self-employed people and businesses who are ineligible for other Scottish Government or UK Government schemes.
Applications for the £100 million fund will be open by the end of the month, and the new arrangements for the Small Business Grant will be in place to receive applications on 5 May.
Fiona commented:
“As Economy Secretary I have been heavily involved in developing the package to ensure that self-employed who have no premises can get some support and to ensure other viable businesses in distress can be supported.
“Extending the existing grant scheme to small businesses to their other properties was an important response and with the overall business support package now sits at £2.3billion.”
ENDS