The Self Employed Income Support Scheme is designed to provide grants to eligible people who are self-employed or member of a partnership and have been adversely affected by COVID-19. The scheme allows you to claim a taxable grant of 80% of your average monthly trading profits, paid out in a single instalment covering three months, and capped at £7,500 altogether. The scheme is being managed directly by HMRC and they have been contacting those people it believes are eligible, however you can now check eligibility online through the government's website. |
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£10,000 Grants Now Available for Charities
The Scottish Government has announced additional funding for charities with an estimated £31 million being made available to more than 3,000 small properties occupied by charities who can now claim for a £10,000 grant .
The grant will apply to properties which are in receipt of any Charitable Rates Relief or Sports Relief, but are otherwise eligible for the Small Business Bonus Scheme.
Find out more at https://www.gov.scot/news/extra-support-for-charities/ |
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Have You Applied for the Newly Self Employed Hardship Fund
Business Gateway Fife has already processed hundreds of applications for the Scottish Government's Newly Self-Employed Hardship Fund which provides grants of up to £2,000
If you are newly self-employed and have not been able to access support through other schemes, you could be eligible.
Click here to find out more and apply online now
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Turnover Threshold Abolished for Business Bounceback Loans
The turnover threshold has been abolished for the 100% government-backed Business Bounceback loans, which means that most business can now qualify for loans from £2000 up to 25% of your annual turnover without having to provide personal guarantees.
With nothing to pay for the first 12 months and then interest rates at 2.5% per annum over a six year term, this could be an excellent way to provide essential cash flow to get you back up and running.
Click here to find out more
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Over 400 Webinars Now Available
You can now access over 400 webinars plus a whole host of online tutorials via the Business Gateway National website.
Whether you are looking at how to improve your web presence to learning how to manage your business remotely, these events are packed with information.
And don't forget, employees who are furloughed can still undertake training so you may want to think about how some of your team can learn new skills so you can add a new dimension to your business.
Click here to find out more
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Furlough Scheme Extended
The chancellor has announced its Furlough Scheme, which provides employees with 80% of their monthly salary up to £2,500 will be extended until October 2020.
However, he has said the government will be asking for companies to "start sharing" the cost of the scheme from August.
Click here to find out more
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SUPPORT PACKAGES AVAILABLE
COVID-19 Self Employment Income Support Scheme FAQs
If you are self employed, the government has published a few answers to some frequently asked questions.
Coronavirus Job Retention Scheme
All you need to know about the governments Job Retention Scheme where employers can claim 80% of wages for employees on temporary leave (“furlough”).
Small Business Support Grant
Small Business Support Grant Applications are already being processed by Fife Council’s Rates Team who are working hard to support Fife Businesses by helping them maintain cashflow. With applications being approved, if you’ve not already, why not check to see if you are eligible.
Business Rates Support for Fife Businesses
As well as the above grant, businesses are being offered a range of relief or discount schemes. To check if your business qualifies please visit Fife Councils Business Rates Reduction page.
The Creative Sector
To help support the country's creative industries against the impact of COVID-19, Creative Scotland has launched three funding programmes - A Creative Scotland Bridging Bursary Fund
- Screen Scotland Bridging Bursary Fund
- Open Fund: Sustaining Creative Development - aims to enable organisations to explore ways of working that will help them to adapt and respond to the current changing circumstances.
Applications opened 30th March 2020
Virtual & Local Business Support We have also put in place actions to allow us to deliver a virtual advisory and workshop service. Plus our experienced advisers can offer free support with a wide range of business matters including continuity planning, managing cashflow and dealing with suppliers.
This aid is in addition to the previously announced support listed below: |
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