Funding Sources For Businesses and Individuals in Scotland


Support Mechanisms available now:

Strategic Framework Business Fund

If your business is required to close by law or to significantly change its operations due to COVID-19 restrictions, you may be eligible to apply for grant funding.

Grants will be paid every 4 weeks in arrears as long as restrictions last.

If your business is required to close by law, apply for the Temporary Closure grant:

  • £2,000 if your business premises has a rateable value of up to and including £51,000
  • £3,000 if your business premises has a rateable value of £51,001 or above
  • An upper limit of £15,000 in total in any four-week period will apply to any eligible business operating multiple premises (after 1 January 2021, this limit will be removed)

If your business can remain open but is specifically required to modify its operations by law, for example having to close earlier than normal, apply for the Business Restrictions grant. This does not include where a demand for your products or services has been reduced because of the pandemic:

  • £1, 400 if your business premises has a rateable value of up to and including £51,000
  • £2,100 if your business premises has a rateable value of £51,001 or above
  • An upper limit of £10,500 in total in any four-week period will apply to any eligible business operating multiple premises (after 1 January 2021, this limit will be removed)

Click here for more information

Covid-19 Contingency Fund

The Scottish Government have announced an £11 Million COVID-19 Contingency Fund.⠀
Phase 1 of the Fund will provide one-off grants to Nightclubs & Soft-play centres.⠀

One-off grants of up to £50,000 will be available to businesses in both sectors through the COVID-19 Contingency Fund. Grants will be based on rateable value.

UK Government Statutory Sick Pay – Employee 

Statutory Sick Pay will be paid from day 1 instead of day 4 for those affected by Coronavirus.

To access the scheme:

  • If you have COVID-19 or are advised to stay at home, you can get an ‘isolation note’ by visiting NHS 111 online, rather than visiting a doctor. For COVID-19 cases this replaces the usual need to provide a ‘fit note’ (sometimes called a ‘sick note’) after 7 days of sickness absence.

Scotland Loves Local Fund

Part of the Scotland Loves Local campaign, this fund provides grants of between £500 and £5,000 to locally based community and third sector groups to develop local marketing and infrastructure projects in their communities. This fund is now open and will close on Wednesday 25th November at 5pm.

Kickstart Scheme

The UK government has introduced a Kickstart Scheme to create high-quality 6-month work placements. It is aimed at those aged 16 to 24 who are on Universal Credit and are deemed to be at risk of long term unemployment.

Foresight Scottish Growth Fund

The Scottish Growth Scheme is a package of financial support of up to £500 million for Small and Medium Enterprises (SMEs) in Scotland. The fund offers equity investments of up to £2m, in rounds of up to £10m alongside co-investor firms, to growing SMEs.

Coronavirus Business Interruption Loan Scheme(CBILS).

The CBILS offers government-backed, 12 months interest-free loans of up to £5m for businesses which turn over up to £45m. CBILS supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance facilities. The scheme has been extended until 30th November 2020 and is available through the British Business Bank’s 40+ accredited lenders and partners, which are listed on the British Business Bank website.

Bounce Back Loan Scheme (BBLS) – You have until 4 November 2020 to arrange this with your lender.  

Announced on 27th April, the BBLS is aimed at the UK’s smallest firms, offering loans of between £2,000 and £50,000. Businesses can borrow up to the value of 25% of their turnover up to a maximum of £50,000 and the UK government will provide lenders with a 100% guarantee for the loan and pay any fees and interest for the first 12 months. No repayments will be due during the first 12 months, and there is a short, standardised online application to apply, with no forward-looking test of business viability or ‘complex’ eligibility criteria. Finance should reach businesses within 24 hours of approval and loans are delivered through a network of accredited lenders. More details can be found here.

Self Employment Income Support Scheme (SEISS) – Self-employed people can receive up at least three months in grants.

This scheme will provide a grant worth 80% of profits to a cap of £2,500 per month for the self-employed with profits less than £50,000 per annum. It will be based on average profits declared in the last 3 years tax return will allow you to claim a taxable grant of 80% of your average monthly trading profits, paid out in a single instalment covering 3 months. The claims service opened on 13th May; applications will open in tranches based on your UTR number.  Those eligible will have the money paid into their bank account by within 6 working days of making a claim.  More details can be found here.

Extend Your Filing Deadline

 If your business has been affected by COVID-19, you can apply online for an automatic three-month extension, to give you more time to submit your accounts to Companies House.

You can only apply for an extension if your normal filing deadline has not already passed.

Coronavirus Job Retention Scheme

Under this scheme, employers can furlough employees who they might otherwise have to make redundant due to the coronavirus (COVID-19) crisis. The UK Government will pay 80% of the wages (up to a maximum of £2,500 a month) of these furloughed employees to preserve jobs.

Click here to check if you can claim

Sea Fisheries Hardship Fund

This fund provides emergency support for Scottish-registered fishing vessels 12 metres and under in length which have lost their source of income due to the coronavirus (COVID-19) crisis.

Click here for more information 

Contingency Fund – nightclubs and softplay centres

The first phase of the Contingency Fund which will provide one-off grants to nightclubs and soft-play centres that have been closed since March 2020.

Click here for more information