The Scottish Government has announced a revised multi-million pound package to extend financial support to businesses with multiple premises. The Small Business Grant scheme has been expanded by £120mil, meaning firms with more than one property will now receive a grant of 75% on each subsequent property, as well as a 100% grant on the first one.
The Scottish Government has announced a revised multi-million pound package to extend financial support to businesses with multiple premises.
The Small Business Grant scheme has been expanded by £120mil, meaning firms with more than one property will now receive a grant of 75% on each subsequent property, as well as a 100% grant on the first one.
Holyrood changed its initial position after concerns were raised by business leaders that firms with multiple premises north of the border were missing out on hundreds of thousands of pounds which is available to their competitors elsewhere.
The Finance Secretary originally revealed small companies and those in the hospitality sector would be eligible for a single grant of up to £10,000 and £25,000 respectively.
Announcing the revised plans, Kate Forbes said: “The Scottish Government’s primary concern remains protecting people’s health, but it is still the case that the Coronavirus (COVID-19) outbreak is having severe economic consequences for businesses around the country.
“Around 100,000 businesses in total are already eligible for our small business grants and from today we will be extending that scheme in response to feedback from businesses on the frontline of this economic crisis.
The Scottish Government's decision to limit grants to one per firm means a number of businesses are receiving financial support when they otherwise would not.
But it sparked anger from those with multiple properties who said they were now at a comparative disadvantage to competitors in England and Wales.
The Federation of Small Businesses wrote to the Scottish Government calling for an extended package of measures to help operators excluded from existing initiatives.
Colin Borland, FSB’s director of devolved nations, said: “This new Scottish Government package should plug some of the most obvious and dangerous gaps in coronavirus support for smaller firms and the self-employed.
“We’ll need to see the swift deployment of this cash. And this looks unlikely to be the end of the story. If we want as many firms as possible to make it through this crisis, then governments north and south of the border may be required to provide additional rounds of help.”
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