£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:

  • The Newly Self-Employed Hardship Fund - 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 businesses in North Lanarkshire is available here.
(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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