Scotland Prepares for Economic Recovery

Scotland Prepares for Economic Recovery

The Scottish Government have announced the second phase of small business grants.

Finance Secretary Kate Forbes has told the Scottish Parliament that the second phase of the Small Business Grant scheme, which extends grant support to all subsequent eligible properties, is now open for applications. This was announced along with a review to examine how Scotland’s Tech industry can help the economy recover.

In addition to existing grants of £10,000 or £25,000 for the first property, the second phase of the Small Business Grant scheme ensures that businesses may now qualify for grants of £7,500 or £18,750 on all subsequent eligible premises.

Retail, hospitality and leisure properties with a ratable value up to £18,000 that do not qualify for the Small Business Bonus Scheme, may now qualify for Small Business Grants.

These enhancements, announced in April, are worth an estimated £120 million extra to businesses in Scotland.

Giving an update to the Scottish Parliament, Ms Forbes announced a new short-life review – led by former Skyscanner Chief Operating Officer Mark Logan - to make recommendations on how Scotland’s thriving Tech industry can help with economic recovery.

She also re-affirmed the Scottish Government’s commitment to pass on the latest £155 million of consequentials to local government in full, and called for the Scottish Parliament to be given additional fiscal powers to help address the challenges facing Scotland’s economy.

The full article can be found here.

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