Business Round up – 17 April

Extension of coronavirus support

This week the Scottish Government announced a £220m extension to the coronavirus support available for smaller businesses and the self-employed:

  • Smaller businesses which operate from multiple premises will be eligible for additional grants and can apply through their local authority for this help.
  • A new £100m fund will also be established for businesses and the self-employed excluded from existing support, including home and vehicle-based firms. Details not finalised.

Changes have been made to the Coronavirus Business Interruption Loan Scheme(CBILS) – including removing the need for personal guarantees for loans of less than £250,000. More here

New measures to protect business with commercial leases
Small business tenants have also been given protection from eviction during the outbreak. You can read about the legal changes here. Tenants are encouraged to enter negotiations with their landlords at the earliest opportunity, if they are finding it difficult to pay their rent.

Additional information
° FSB’s Coronavirus Hub contains all of our most up to date information about support on offer from government at all levels, including the Coronavirus Job Retention Scheme, as well as the action our members should take to delay payments such as tax, VAT, rent and other bills.
° The Scottish Government’s Find Business Support website also collates coronavirus business support information.

Source: Federation of Small Businesses Newsletter.