Business Support Grant payments

Business Support Grant payments Image

MORE THAN 150 businesses across Dundee are already being supported to the tune of Β£2m by the Coronavirus Business Support Fund.

The first grant payments have been made under the Scottish Government scheme offering help to small businesses in receipt of Small Business Bonus Scheme Relief or Rural Relief and hospitality, leisure and retail businesses with properties with a rateable value between Β£18,001 and Β£51,000.

John Alexander leader of Dundee City Council said: β€œThis grant of either Β£10,000 or Β£25,000, which does not have to be paid back, represents a lifeline for many firms and small enterprises across Dundee, whose trade has been decimated by coronavirus.

β€œWe have set ourselves the target of making payments within 10 working days of receiving an application form to recognise the fact that our firms need this direct support as fast as we can get it to them and these grants represent the start of that process.

β€œIn these unprecedented times, it’s more important than ever that we work with our business community to ensure their longer term success. This funding provides a lifeline for many and when we return to some degree of normality, it’ll be even more important that we support local businesses.”

Scottish Government Cabinet Secretary for Finance Kate Forbes added: β€œWe have worked closely with Dundee City Council to establish a scheme to pay grant funding to eligible businesses as quickly as possible.

β€œI am grateful for the way in which local authorities across Scotland have managed huge volumes of applications so quickly and paid out millions of grant funding already.

β€œThis funding will make a big difference, and complements other business support like the Job Retention Scheme and Self-Employed Scheme.

β€œThis has been an excellent example of team work and I’m grateful to all elected members and officers for their work.”

The first of 158 grants of Β£10,000 to small business and Β£25,000 to hospitality, leisure and retail businesses have been paid since the start of this week with more payments to be made daily as and when application forms are reviewed.

Advice for local businesses, including ways of accessing financial support, is available at https://www.dundeecity.gov.uk/service-area/city-development/planning-and-economic-development/covid-19-advice-for-business

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