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SRC responds to Scottish Government announcement on business support

retail

The Scottish Government has announced a second phase of funding to support businesses across the country.

The finance secretary confirmed to the SRC that the £120m extension applies to its retail and hospitality grant scheme.

This means a 100% grant will apply on the first property plus a 75 percent grant on all subsequent properties.

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Commenting, David Lonsdale, SRC Director, said: “The economic response to the coronavirus challenge is both broad and complex. Governments have to take bold and unprecedented steps to protect businesses who otherwise may not survive – but of course there is a need to balance support to those who require it.

“Today’s announcement is clearly in that spirit, and retailers will be pleased the Finance Secretary has listened to our representations. Medium-sized Scottish non-food retail firms are amongst those most vulnerable to the consequences of lockdown and the collapse in footfall and spending.”

Adding: “These businesses may operate from multiple sites, but each store is run on an individual basis and each store will need support in order to reopen when we move past this phase. These grants, along with the generous but vital 100% business rates relief, are vital steps in ensuring when we eventually open our doors we can return to vibrant and successful high streets.”

Tags : businesCoronavirussupport
Alex Douglas

The author Alex Douglas

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