Business support fund payments more than double within a week to almost £11m

Coronavirus

Published: Friday, 17th April 2020

In less than a week the amount paid out to Scottish Borders businesses through the Scottish Government’s Business Support Fund has more than doubled to almost £11million.

The fund is being managed locally by our Business Gateway service, with a large team of our staff from across a range of services processing applications and payments.

Extra payment runs have been put in place to ensure businesses receive the funds as soon as possible after approval of their application.

Almost 1,000 grants have now been approved for 986 businesses, with payments totalling £10,730,000 processed.

Additional support

Earlier this week the Scottish Government announced a second phase of business support. The Government will provide further information shortly but these programmes will not be available until the end of the month at the earliest. As soon as details are available they will be published on our website.

Tracey Logan, Chief Executive

“Since the end of last week our team has managed to process a significant volume of applications, enabling us to arrange payments valued at £6.2m this week alone.

“This has only been possible thanks to businesses ensuring that their applications have been fully completed and all required information submitted with their application and the deployment of even more staff to support this vital area of work.

“We welcome the additional funding that the Scottish Government announced on Wednesday and we now await further detail on the two schemes announced. Unfortunately, we will not be able to advise local businesses on those new elements of funding support until we have formal guidance from the Scottish Government.

“To help our team continue to process the Business Support Fund applications as quickly as possible I would ask local businesses to check our webpages over the coming days for more information on when applications for this new support will be open.”

Business Support Fund

The fund provides one-off small business support grants of £10,000 or £25,000.  The £10,000 grant is available to ratepayers of businesses located in a non-domestic property, with a rateable value of less than £18,000, which are:

  • In receipt of the Small Business Bonus Scheme (SBBS); or
  • In receipt of Rural Relief; or
  • Eligible for SBBS, but in receipt of Nursery Relief, Disabled Relief, Fresh Start or the Business Growth Accelerator. Certain property uses are excluded.

The £25,000 one-off grant is available to the ratepayers of businesses in the retail, hospitality, leisure sectors operating in a premises with a rateable value of £18,001 or up to £51,000.

Information and guidance on the support available, and the application form, is available online.

Information on support for businesses is available on our website along with links to other useful information and advice. A local helpline is also available - 01835 825600. 

Other help for businesses

Support for businesses, including loans and support for the self-employed is also available, with information available from www.businesssupport.gov.uk and www.findbusinesssupport.gov.scot/coronavirus-advice

A national helpline for Scottish businesses concerned about the impact of COVID-19 has been established. The helpline, 0300 303 0660, is open Monday to Friday 8.30am-5.30pm.