Advice for Businesses

This dedicated site has been set up by the Scottish Government with advice for businesses: https://findbusinesssupport.gov.scot/coronavirus-advice

The Scottish Government have announced the following measures:

• 1-year rates holiday for all retail, hospitality and leisure properties beginning in April.
• NDR relief of 1.6% all properties across Scotland, from April.

You can find information on these measures, as well as eligibility information at the Scottish Government website: https://www.mygov.scot/non-domestic-rates-coronavirus/

West Lothian Business Support Services: https://www.westlothian.gov.uk/article/51555/Business-Support-Service-updates

From mygov.scot: Retail, hospitality and leisure businesses with a rateable value between £18,000 and up to and including £51,000 will be able to apply for a one-off grant of £25,000. A one-off grant of £10,000 will also be available to small businesses who get:

• Small Business Bonus Scheme relief
• Rural Relief

You can also get this grant if you applied for Nursery Relief or Disabled Relief but are eligible for the Small Business Bonus Scheme. Source: https://www.mygov.scot/non-domestic-rates-coronavirus/

From mygov.scot: An additional £350 million will go to those most affected by the coronavirus (COVID-19) pandemic, Communities Secretary Aileen Campbell has announced. The funding will be made available to councils, charities, businesses and community groups and designed to be flexible, cutting down on red tape to enable them to respond swiftly and according to local need for people impacted economically or through reduced contact with society, including anyone struggling to access food. More information available at the Scottish Government website: https://www.gov.scot/news/helping-communities-affected-by-covid-19/

Scottish Enterprise helpline: 0300 303 0660. Opening hours are Monday to Friday from 8:30am to 5:30pm

CBILS is a new scheme, announced by The Chancellor at Budget 2020, that can provide facilities of up to £5m for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow. Apply here: https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/accredited-lenders/ Detailed Guidance from UK Finance Ltd here: https://www.ukfinance.org.uk/coronavirus-business-interruption-loan-scheme

New advice has been published at the UK Government Website, explaining how to access the Coronavirus Job Retention Scheme. See this page: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses

The facility is designed to support liquidity among larger firms, helping them to bridge coronavirus disruption to their cash flows through the purchase of short-term debt in the form of commercial paper. This webpage from the Bank of England sets out the practical steps that your firm needs to take in order to access the CCFF, as well as other frequently asked questions.