new Creative Enterprise Hardship Fund launched
The Scottish Government has announced amongst other funding, a £20 million Creative, Tourism & Hospitality Enterprises Hardship Fund, managed by the Enterprise Agencies in partnership with Creative Scotland and VisitScotland for creative, tourism and hospitality companies not in receipt of business rates relief.
This Fund is for small creative, tourism and hospitality companies that are experiencing hardship because they are ineligible for other COVID-19 Government grant support. The focus is to help companies manage cashflow commitment for the next three months, and those furloughing staff are still eligible to apply.
Grants of up to £25,000 can be accessed in addition to the Coronavirus Job Retention Scheme. However, those that have accessed other support will not be eligible. For example, if you already qualify for the retail hospitality and leisure £25,000 funding you would not be eligible.
Essential eligibility criteria
Companies with up to 49 employees
Experienced at least a 50% loss of current or projected revenue
Not in financial difficulty before 31 December 2019
Not in receipt of other COVID-19 government grant support, except the Furlough Scheme
Not for pre-revenue companies
Must have a business bank account