Scotland has announced a £20 million support package for small and micro-sized businesses in the tourism and hospitality industry, in addition to a £100 million support package for small and medium-sized businesses (SMEs).
Along with a planned £100 million support package for SMEs and planned £20 million support package for small and micro businesses, £34 million was earmarked for the self-employed Group. Applications, which begin in early May, will be managed by local authorities and Scotland’s enterprise agencies. Economy Secretary Fiona Hyslop said: “Our economy has been hit hard by this crisis and previously profitable businesses have seen demand dry up overnight. Our support will help alleviate the hardship those individuals and companies are facing. I am particularly pleased that we will be able to help the newly self-employed who do not qualify for the UK’s scheme and are facing financial hardship as a result of coronavirus. This fund is intended to relieve the hardship of smaller firms that are ineligible for other forms of support.”