The Scottish Government made a couple of new announcements (15.04.20) regarding additional support for businesses in Scotland. We have updated the information and fact sheets within our COVID-19 Hub with the very latest including:
Small Business Grant Scheme. Small business rate payers with multiple premises will now be eligible to claim a grant of £10,000 on their first property and a further 75% on their other premises. The new arrangements for these grants will be in place by 5 May.
Additional support for the self-employed. A further £100m fund has been made available to help the self-employed and viable micro and SME businesses who face immediate cash flow challenges and are ineligible for other schemes. This funding will be administered through the local authorities and will be available for applications from the end of April 2020.
Job Retention Scheme. No doubt bringing relief to many, the furlough scheme cut-off date has been extended to 19 March 2020 from the previous date of 28 February 2020. Any employees who previously were unlucky to have started a new job between 1 March and 19 March, can now be furloughed provided an RTI submission notifying payment in respect of that employee has been done before that date.
Business Survival and Recovery Plan Videos
The seventh and final video in our current series in which Robert Fergusson talks you through our Business Survival and Recovery Plan has been released. We think it of great importance that all our clients have a plan in place, particularly so if you are intending to take up any of the Government initiatives including the Coronavirus Business Interruption Loan Scheme (CBILS). If you haven’t yet watched the short step-by-step videos the entire series can now be online.
1) Adjusting to life as we now know it and settling into home working.
2) Overview of our Business Survival and Recovery Plan.
3) Stage 1 – initial assessment and diagnosis.
4) Stage 2 – how your business will survival during lockdown.
5) Stage 3 – how to navigate your recovery plan.
6) Reassessing your business model to get the returns you deserve.
7) Navigating the CBILS and how we can help.
Keep In Touch
We continue to be well placed to help you and your business through this challenging period. We have already secured a number of successful outcomes for clients through the CBILS and other schemes. Should you wish to discuss any element of the various support packages available do not hesitate to get in touch.