New business fund applications to open this week

Scottish Parliament

APPLICATIONS for the latest round of Scottish Government support grants will open this week.

The Scottish Government announced today (November 10) that local authority websites will be updated this week to allow businesses to apply for the new ‘Strategic Framework Business Fund’ grants.

There are two grants available: a Temporary Closure grant of £2000 or £3000 (depending on whether a premises has a rateable value of up to £51,000 or over that amount) for premises required to close by law; and a Business Restrictions grant of £1400 or £2100 (depending on rateable value) for businesses that can remain open but have had their trading impacted by the current coronavirus restrictions.

Businesses operating multiple premises that have been required to close can apply for a maximum of £15,000 every four weeks under the Temporary Closure grant, with a maximum of £10,500 available from the Business Restrictions grant.

Grants will be paid every four weeks in arrears as long as restrictions last, with the first payment due “on or around” November 30.

The new grants are separate from – and in addition to – the Coronavirus Restrictions Fund grants, which covered the COVID-19 restrictions in place from October 9 and November 1. Applications for those grants closed on November 3.