£100m Business Support Fund open for applications

The Scottish Government has announced additional funding for businesses

North Lanarkshire Council logo

This grant funding has been divided into three distinct areas:

  • - a £35m fund for newly self-employed facing hardship through £2,000 grants (this is being administered by North Lanarkshire Council, for businesses in our area).
  • The Pivotal Enterprise Resilience Fund - a £45m fund for viable but vulnerable SME firms who are vital to Scotland's economy
  • The Creative, Tourism & Hospitality Enterprises Hardship Fund - a £20m fund for small creative, tourism and hospitality companies not in receipt of COVID-19 business rates relief

Companies can apply through this website for the resilience and hardship funds: https://findbusinesssupport.gov.scot/

The Newly Self-Employed Hardship Fund for
(Demand for this additional funding is likely to be exceptionally high). 

Support will be targeted at businesses that meet the following criteria:

The Pivotal Enterprise Resilience Fund

  • Companies up to 249 employees that have been trading for more than twelve months  
  • Can demonstrate funding will support business to be viable for the next six months
  • Drive economic prosperity - for example through wages, employment, exports, supply chain, etc.
  • Are a supplier or potential supplier to NHS or other COVID-19 vital services
  • Are suppliers to other essential businesses
  • Can scale up or diversify due to COVID-19 opportunities
  • Continue to trade or can quickly come out of hibernation
  • Play an important role within their local community

The Creative, Tourism & Hospitality Enterprises Hardship Fund

  • Companies up to 49 employees
  • Experienced at least a 50% loss of current or projected revenue
  • Not in financial difficulty pre 31th December 2019
  • Are not in receipt of other COVID-19 government support, except Coronavirus Job Retention 'Furlough' Scheme

For details on what information companies will need to provide as part of the application process visit: https://findbusinesssupport.gov.scot/.

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