GRT & Co Coronavirus Support Update 15/04/20 - Small Business & Self Employed


Coronavirus Support - Small Business & Self Employed Update

Extra support for Scottish businesses announced

At this point the information is very vague on the details, and as always we will update as we learn more.

Per the article -

Finance Secretary Kate Forbes has now said small chains will be able to claim extra cash for additional properties.

She announced an extra £100m of funding for self-employed people and firms that are not currently covered.

Ms Forbes urged businesses to only claim help if "absolutely necessary", likening it to the advice to shoppers to only buy what they need from supermarkets.

She also announced of a new fund aimed at newly self-employed people who may have struggled to access the existing scheme, which requires evidence of past tax returns and does not kick in until June.

This cash, which will also target small firms not eligible for existing grants and who face cash-flow problems, will be administered through local councils and enterprise agencies.

The finance secretary said: "While many businesses are in difficulty, some are doing better than others or can pull through from their own resources.

"Just as we ask the public only to buy what they need in the supermarkets, we are asking businesses who do not need this vital help to refrain from claiming additional support unless absolutely necessary so we can direct as much help as possible to those who need it most."

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