24 April 2020
The Scottish Government has confirmed that funding for the newly self-employed suffering hardship and SMEs in distress will be be paid in early May.
The £100 million fund to support the self-employed and SMEs will be broken into three separate funds as follows:
- £34 million Newly Self-Employed Hardship Fund, managed by local authorities, will be allocated to the newly self-employed facing hardship through £2,000 grants
- £20 million Creative, Tourism & Hospitality Enterprises Hardship Fund, managed by the enterprise agencies in partnership with Creative Scotland and VisitScotland for creative, tourism and hospitality companies not in receipt of business rates relief
- £45 million Pivotal Enterprise Resilience Fund, managed by the enterprise agencies for vulnerable SME firms who are vital to the local or national economic foundations of Scotland
See the full press release for more information.