Increased funding support for hospitality, retail and leisure businesses

The Scottish Government have announced January top-up grants for hospitality, retail and leisure businesses across Scotland that have had to close due to level 4 restrictions.

These one-off grants will be in addition to the grants businesses receive through the Strategic Framework Business Fund (SFBF), which has been open since November. In most cases, if you have already applied through the SFBF for the 4-weekly payment, you should receive an automatic top-up combined with the next payment of the SFBF due on 25 January.

If you have not already applied for either fund, you should do so as soon as possible through your local authority. Applications are already open.

Eligible businesses will be able to access the following support:

• £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

To be classed as a larger hospitality or retail and leisure business, you should have a rateable value (RV) of £51,001 or more. Those with a RV of £51,000 or less are classed as smaller hospitality or retail and leisure businesses. You can check your eligibility and find out more information on the SFBF and top-up grants here.

If you would like support or advice in relation to this or other funding, our EQ Leisure team would be happy to help. Please get in touch by calling one of our offices or emailing leisure@eqaccountants.co.uk.