Scotland announces £20m hardship fund for creative, tourism and hospitality enterprises
Scotland has announced a £100m package of additional grant support for small- and medium-sized businesses (SMEs), including a £20m fund for small and micro enterprises in the creative, tourism and hospitality sectors.
This also includes a £34m hardship fund for the newly self-employed and £45m is available for viable SMEs crucial to the Scottish economy.
Applications are open and the three funds will be administered by local authorities and Scotland's enterprise agencies from early May.
Economy secretary Fiona Hyslop said: "Our economy has been hit hard by this crisis and previously profitable businesses have seen demand dry up overnight. Our support will help alleviate the hardship those individuals and companies are facing.
"I am particularly pleased that we will be able to help the newly self-employed who do not qualify for the UK's scheme and are facing financial hardship as a result of coronavirus (Covid-19).
"We also recognise the particular impact of Covid-19 on our creative, tourism and hospitality sectors at what would normally be their busiest period. This fund is intended to relieve the hardship of smaller firms that are ineligible for other forms of support.
"As well as dealing with this immediate crisis, we must look to the future. We must ensure that viable and vital businesses in all sectors with a part to play in strengthening the resilience of Scotland's economy survive this crisis and thrive in future, which is why £45m is being allocated to support those firms.
"We continue to engage with businesses on a regular basis to understand their needs and press the UK government to deliver for them."
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