Approximately £70m in COVID-19 support has been issued to Borders businesses since the start of the COVID-19 pandemic
Nearly 5.8k businesses across the region have benefited from the various grants administered by us to mitigate the financial challenges faced as a result of restrictions and regulations introduced to control the spread of COVID-19.
Bussiness support in the Borders
Grants including the Strategic Framework Business Fund, Newly Self Employed Hardship Fund and Business Support Fund have helped safeguard Borders businesses since last March.
One of the major funds, the Scottish Borders Discretionary Fund, has to date allocated over £2.8m of Scottish Government funds to approximately 420 small and self-employed businesses in the area.
This particular fund was designed specifically by us to respond to the unique nature of business in the Scottish Borders by addressing gaps missed by other national funds and supporting the high proportion of small, micro and self-employed businesses.
We are recommending that almost £300k of remaining funds from this grant is allocated to the self-employed businesses who successfully made an application to the fund in the form of a top-up payment. The proposal would provide the 240 eligible self-employed businesses with an additional payment of between £1k and £1.5k.
National support
Financial support for business was first announced by the Scottish Government in March 2020 with the Small Business Grant providing much needed relief to hospitality and retail businesses following the first national lockdown.
This aimed to address the immediate financial concerns faced by businesses across many sectors. As the pandemic has progressed, various other grants have been issued by the Scottish Government to help protect jobs and the economy.
Throughout this process, we have played an important part in helping distribute funding to local businesses as part of the COVID-19 response.
Businesses who have benefited from the wide-ranging funding schemes include:
- self-employed
- small businesses
- breweries
- travel agents
- taxi and private hire drivers
- businesses operating in the hospitality and events sector
Further information
The majority of the business grants are now closed, however we are still processing applications for a small number of the allocated funding schemes. Additionally, a number of funding schemes are being managed by a wide range of partner authorities such as South of Scotland Enterprise (SOSE) and Visit Scotland.
A comprehensive list of funds still available to businesses in the region, including details of how to apply, can be found on the Find Business Support website.
Councillor Mark Rowley, Executive Member for Economic Regeneration and Finance
“Financial support for businesses has been absolutely crucial to address the challenges posed by COVID-19 and safeguard jobs and livelihoods.
“When the coronavirus pandemic hit last year, the true extent to which it would impact the livelihoods of all Borderers could not be fully realised. Local businesses are the heartbeat that helps the Borders thrive and doing everything possible to help protect them throughout this period has been of primary importance.
“Businesses have suffered unimaginable hardship as a result of the virus and whilst there is light at the end of the tunnel, many are still suffering. News of an additional top-up payment for self-employed businesses through the Scottish Borders Discretionary Fund will come as a welcome windfall at a continually unpredictable time.
“I’d implore every business to keep checking the Find Business Support website for grants they could be eligible for.”