More than £55 million paid in business support

More than £55 million in coronavirus (COVID-19) support has been paid out to businesses between October and December through Scottish Government funds.

Statistics published today show 13,462 grants totalling £31.4 million have been processed through the Strategic Framework Business Fund (SFBF) between 2 November and 28 December. The fund pays up to £3,000 every four weeks to eligible businesses, with one-off top-ups for hospitality, retail and leisure firms also due to be paid this month. 

The COVID-19 Restrictions Fund - which covered the “circuit break” from 9 October to 2 November - has paid out £16.7 million and £2.7 million was made in furlough top-up payments to employers over the same period. Nightclubs and softplay operators have received £6.9 million so far.

Many businesses also continue to benefit from non-domestic rates relief financed by the Scottish Government, in addition to the UK Government furlough scheme.

Meanwhile, new management information figures published separately today show that the Scottish Government allocated 383,000 business support awards totalling £2.3 billion between March and the beginning of October 2020.

Finance Secretary Kate Forbes said:

“We have allocated over £3 billion to help businesses since the start of this pandemic. These latest figures show the true scale of that support – with our funds paying out 383,000 awards for businesses between March and October and a further £55 million between October and December. We also have significant top-up payments that will be made this month.

“The recent tightening of restrictions means that more businesses will be eligible for the Strategic Framework Business Fund from January onwards and many will also benefit from top-up payments or sectoral grants. The December payments from this fund was made over a week early and local authorities are on track to make the January payment, despite a large increase in the number of new applications this month.

“We are acutely aware that this support can never compensate for the full impact on business, but we will continue to work within the resources that are available to us to protect businesses and build a stronger recovery for Scotland.”

Background:

Read the latest Scottish Government Strategic Framework Business Fund publication here. 

Read the latest Scottish Government COVID-19 business support management information here.