Local MSP welcomes additional support for businesses

Banff and Buchan MSP Stewart Stevenson has welcomed a second phase of funding for businesses from the Scottish Government to protect against the effects of COVID-19.

Around £220 million of further grants are 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 per cent grant on the first property, small business rate payers will be eligible to a 75 per cent 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 May 5.

Commenting Mr Stevenson, said: “I know that for many businesses the effects of coronavirus has been felt deeply and caused a great deal of concern and uncertainty.

"It is welcome news today that the Scottish Government is doing even more to urgently support business owners.

“While it remains a public health crisis there is no doubt that the Coronavirus outbreak is having severe economic consequences for businesses around the country.

“This new package of support from the Scottish Government will help businesses with the maximum financial capacity right now and offer lifeline funding to many of the businesses on the frontline of this economic crisis .”

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