Published: Friday, 24th April 2020
Payments totalling over £16.5m have now been processed for Scottish Borders firms through the Scottish Government’s Business Support Fund.
The fund is being managed locally by our Business Gateway service, with 1,520 businesses approved for funding to date. The most recent set of payments were processed today and will be received by businesses early next week.
What support is available?
The current Business Support Fund provides one-off small business support grants of £10k or £25k. The £10k grant is available to ratepayers of businesses located in a non-domestic property, with a rateable value of less than £18k, 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 £25k 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 £51k.
Information and guidance on the support available, and the application form, is available online along with links to other useful information and advice. A local helpline is also available - 01835 825 600.
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.
Tracey Logan, Chief Executive
“Applications continue to be received for the Business Support Fund and I would encourage any eligible businesses to make sure they apply so they can receive the funding support they are entitled to.
“We estimate that around 3,000 local businesses are eligible, therefore about half have already been successful in obtaining support.
“We anticipate that early next week detailed information and guidance regarding the additional financial support announced by the Scottish Government will be available and as such application forms and criteria will be available from our dedicated web pages”