MSP WELCOMES LIFELINE SUPPORT TO HELP BUSINESSES IN COATBRIDGE & CHRYSTON

APPLICATIONS NOW OPEN FOR NEW SCOTTISH GOVERNMENT SUPPORT SCHEMES

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A £100 million package of additional grant support for small and medium sized businesses (SMEs) and newly self-employed people in Coatbridge & Chryston is now open for applications.

 

The three Scottish Government funds will be administered by local authorities and Scotland’s enterprise agencies and will begin to pay out grants in early May.

 

They include a £34 million hardship fund for the newly self-employed, a £20 million fund for small and micro enterprises in the creative, tourism and hospitality sectors and £45 million for viable SMEs crucial to the Scottish economy.

 

SNP MSP Fulton MacGregor said:

 

“Local businesses and industries here in Coatbridge & Chryston will be understandably concerned about the impact that coronavirus will have on the local economy.

 

“These funds are intended to relieve the hardship of smaller firms in Coatbridge & Chryston that are ineligible for other forms of support – and is just one part of the support the Scottish Government is providing to individuals and businesses in Coatbridge & Chryston to protect jobs and incomes.”

 

“This package of support is welcome, and will help alleviate the hardship some individuals and companies may be facing.

 

“Applications are now open, and applicants can access these funds and more via the www.FindBusinessSupport.gov.scot website.”

HELPFUL INFORMATION FOR CONSTITUENTS 

A £100 million fund have been announced to support the self-employed and SMEs announced last week opened for applications yesterday (30 April).

It comprises three separate funds as follows:

– £34 million Newly Self-Employed Hardship Fund to help newly self-employed facing hardship through £2,000 grants https://findbusinesssupport.gov.scot/service/coronavirus/newly-self-employed-hardship-fund

£20 million Creative, Tourism & Hospitality Enterprises Hardship Fund, for firms in those sectors not in receipt of business rates relief see: https://findbusinesssupport.gov.scot/service/coronavirus/creative-or-tourism-and-hospitality-enterprises-hardship-fund

–  £45 million Pivotal Enterprise Resilience Fund for vulnerable SMEs who are vital to the local or national economic foundations of Scotland see: https://findbusinesssupport.gov.scot/service/coronavirus/pivotal-enterprise-resilience-fund

From Tuesday May 5th, a second phase of the Business Grants Funding Scheme will commence. This includes measures aimed at ratepayers with more than one property. In addition to a 100% grant on their first eligible property, ratepayers with additional qualifying properties will be eligible to apply for a 75% grant on each additional property. This means that Small Business Grants of £7,500 and Retail, Hospitality and Leisure Grants of £18,750 will be available on any additional qualifying properties that a ratepayer may have, subject to compliance with EU State Aid Rules.

 

Further changes to the Small Business Support Grant of £10,000 extend eligibility to:

 

– Ratepayers that hold one or more properties within retail, hospitality or leisure, with individual rateable values not exceeding £18,000, and a cumulative rateable value between £35,001 and £51,000 will now be eligible for the Small Business Grant Scheme on each of their retail, hospitality or leisure properties

– Small sports clubs which are eligible for the Small Business Bonus Scheme but in receipt of discretionary sports relief

– Small properties in Enterprise Areas which are eligible for the Small Business Bonus Scheme but in receipt of Enterprise Areas relief

 

More information can be accessed via the website: www.findbusinesssupport.gov.scot or North Lanarkshire Council’s website; https://www.northlanarkshire.gov.uk/index.aspx?articleid=34891

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