There is now a range of funding support for businesses in Orkney and Scotland.
The Coronavirus Business Hardship Support Grant Scheme
This fund is for businesses which are not eligible for other schemes. It is being managed by Orkney Islands Council and uses a combination of monies: the Council’s Strategic Reserve Fund; Crown Estate funding which was allocated to the Council from the Scottish Government ; and OIC’s Renewable, Redevelopment and Regeneration Fund
Businesses which wish to apply for this fund are advised to first check that they are not eligible for other schemes.
Grants from the fund will initially be for:
- £5,000 per applicant for businesses employing one to five full time equivalent employees, including the owner or owners.
- £10,000 per applicant for businesses employing six to 10 full time equivalent employees, including the owner or owners.
- £15,000 per applicant for businesses employing 11 or more full time equivalent employees, including the owner or owners.
Click on this link to My Services for more advice, eligibility criteria and an application: Benefits and Grants
Newly Self-Employed Hardship Fund
This Scottish Government Fund of £34million will be administered by local authorities. It is for the newly self-employed who are ineligible for UK support (as they became self-employed since April 2019) but are facing hardship with £2,000 grants
Creative, Tourism & Hospitality Enterprises Hardship Fund
This is a £20million Scottish Government fund administered by Enterprise Agencies with support from Creative Scotland and VisitScotland. It is for small and micro creative, tourism and hospitality companies not in receipt of business rates relief with grants of up to £25K.
Pivotal Enterprise Resilience Fund
This £45million Scottish Government fund is administered by Enterprise Agencies. This provides bespoke grants and support to small and medium sized businesses.
You can find out more information on Business Support at Find Business Support in Scotland
Business Grants Paid Out
385 businesses in Orkney have received Scottish Government grants to support firms through the coronavirus crisis.
A total of £4.42 million has been awarded in Orkney through a Scottish Government scheme to support small businesses and the retail, hospitality and leisure sector.
A £10,000 grant is available to non-domestic ratepayers with properties in receipt of:
- Small Business Bonus Scheme relief (SBSS) or Rural Relief
- Nursery Relief, Disabled Relief, Business Growth Accelerator, Discretionary Sports Relief, Enterprise Areas Relief or Fresh Start but eligible for SBSS
A £25,000 grant is available to the ratepayers of properties in the retail, hospitality and leisure sectors with property with a rateable value between £18,001 – £51,000
This grant support is worth over £1 billion to business and is part of the wider business support package worth £2.3 billion.
So that funding can be distributed as quickly as possible, eligibility for the grant scheme is linked to the non-domestic rates system.
- Financial Support for Fishing and Coastal Businesses #Covid19 #Coronavirus
- Matching Skills To Support Rural Businesses