Further grants announced for Scottish businesses

Further grants announced for Scottish businesses

Strategic Framework Business Fund

In response to the level 4 restrictions brought in from 26 December in Scotland, top-up grants have been announced to support businesses within hospitality, retail and leisure.

The top-up is in addition to the grants offered through the Strategic Framework Business Fund, and those eligible will receive:

• £25,000 for larger hospitality businesses on top of the 4-weekly £3,000
• £6,000 for smaller hospitality businesses on top of the 4-weekly £2,000
• £9,000 for larger retail and leisure businesses on top of the 4-weekly £3,000
• £6,000 for smaller retail and leisure businesses on top of the 4-weekly £2,000

In most cases, eligible businesses that have already applied for the 4-weekly payment from the Strategic Framework Business Fund will get an automatic top-up.

For the majority, this top-up will be combined with the next tranche of payment for the Strategic Framework Business Fund due to go to businesses on 25 January.

Further information can be found here. To apply, businesses need to go through their council.

DigitalBoost Development Grant

For Scottish businesses looking to do more with digital, this £10m fund has been introduced on a first come, first served basis.

The grant is open to all businesses across Scotland who are looking to enhance their service or organisation using digital technology, platforms and innovation. Applicants will be expected to contribute at least 25% of the cost of their project.

Eligibility criteria:

• Your business must be based in, and trading in, Scotland.
• Charities, social enterprises and third sector organisations can also apply.
• Your business must be trading a minimum of 6 months.
• Applicants must be over the age of 18.
• Applicants must be a UK resident with the right to work in the UK.
• Businesses must meet the European* definition of an SME in relation to employees, balance sheet and turnover.
• Available to all industry sectors.

The fund, offered by the Scottish Government in conjunction with Business Gateway, opened for applications from Tuesday 12 January. Due to the level of early interest, applications are currently suspended on this. For more information and for updates, click here.

*European Definition: The category of micro, small and medium-sized enterprises (SMEs) is made up of enterprises which employ fewer than 250 persons and which have an annual turnover not exceeding 50 million euro, and/or an annual balance sheet total not exceeding 43 million euro.

Get in touch

If you have any further queries regarding these funds or would like to discuss the support available in more detail, please get in touch with your usual Azets contact.