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SLTA News And Updates 11th January

SLTA News and Updates 11th January

A significant top-up to the grant support available for hospitality, retail and leisure businesses across Scotland closed by level 4 restrictions will be paid following an announcement by Finance Secretary Kate Forbes.

In addition to the grants businesses receive through the Strategic Business Framework Fund, eligible businesses will also get a one off grant of:

  • £25,000 for larger hospitality businesses on top of the 4-weekly £3,000
  • £6,000 for smaller hospitality businesses on top of the 4-weekly £2,000
  • £9,000 for larger retail and leisure businesses on top of the 4-weekly £3,000
  • £6,000 for smaller retail and leisure businesses on top of the 4-weekly £2,000

In most cases, eligible businesses that have already applied for the 4-weekly payment from the Strategic Framework Business Fund will get an automatic top-up.   For the majority, this top-up will be combined with the next tranche of payment for the Strategic Framework Business Fund due to go to businesses on 25 January.   Businesses that haven’t yet applied for either of these funds should submit an application as soon as possible through their local authority website. Applications are now open.

Ms Forbes said:  

Since the start of the pandemic Scottish Government support for business and the economy has reached almost £3 billion – more than a third of our total coronavirus (COVID-19) funding, demonstrating our commitment to provide as much help as we possibly can to our businesses.

As promised, this additional support for hospitality, retail and leisure businesses will be available this month, in some cases doubling or tripling the amount of support we are providing. Applications are open now and payment will be made this month.

Crucially this essential funding will also help to close the gaps in UK wide support for these impacted sectors and our one-off support for larger hospitality premises of £25,000 is considerably more generous than the £9,000 grant on offer in England.

I’d encourage all eligible businesses to apply through their local authority if they have not done so already. Of course we are acutely aware that this support can never compensate for the full impact on business, but we must work within the resources that are available to us, and we continue to respond to the evolving economic challenges arising from the pandemic.”

Responding to the announcement, Colin Wilkinson, Managing Director of the SLTA, said:-

We fully understand the need for this new lockdown but with that must come the appropriate support for businesses that are already on their knees and fighting for survival. It is good news that retail, hospitality and leisure businesses across Scotland will receive additional grants of up to £25,000.

We await clarification from the Finance Secretary on the details and, having previously called for additional comprehensive sector-specific support for the hospitality sector, we urge the Government to move as quickly as possible to get this much-needed funding support out to the businesses that desperately need it.

While we are hugely heartened by the rollout of the Covid vaccination programme which gives us all hope for the future, our sector will continue to need long-term measures of business support – but it also needs help right now if it is to survive beyond spring.

The UK Government needs to also look at extending the commercial rates relief, continuing the VAT reduction for the hospitality sector, and extending the furlough scheme further. There also needs to be more information or indication of an exit strategy out of this pandemic so that business can attempt to plan ahead.”

Background:

  • larger hospitality businesses are those with a rateable value of £51,001 or more
  • smaller hospitality businesses are those with a rateable value of £51,000 or less
  • larger retail and leisure businesses are those with a rateable value of £51,001
  • smaller retail and leisure businesses are those with a rateable value of £51,000 or less

For more information visit Find Business Support 

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