NFU Scotland | /financial-support-for-business.aspx

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Financial Support for Business

NFU Scotland will continue to provide up-to-date information relevant to our farming and crofting members, however, funding is being updated regularly, so it is important to keep up to date with the Scottish and UK government resources to help you navigate the support available.

Where can I find up to date information regarding business support from the UK and Scottish Government?

You can find business support information and guidance directly from Scottish Government here:
https://findbusinesssupport.gov.scot/coronavirus-advice

Or check the Find Business Support directory for current support packages here: https://findbusinesssupport.gov.scot/coronavirus-advice/sources-of-funding

Business Gateway have a list of support available for businesses which is being updated regularly with new funds and details about how to apply, available here:  
https://www.bgateway.com/resources/finance-and-grant-announcements

The UK Government have also developed a tool to help people find what Coronavirus support may be available to employers and the self-employed. The Business Support Finder is available here: https://www.gov.uk/business-coronavirus-support-finder


What support packages should I be aware of?

Notable business support packages include:

Loans:

  1. The Coronavirus Busines Interruption Loan Scheme,
  2. The Bounce Back Loan Scheme,

Business support:

  1. Support for employers, including the Statutory Sick Pay Rebate Scheme, and Coronavirus Job Retention Scheme,
  2. Support for the self-employed and the Newly Self-employed Hardship Fund,
  3. Deferral of VAT payments, 
  4. Non-domestic rates relief and deferrals.

Remember to check the Scottish and UK Government guidance for the most up-to-date information.


What rate relief grant funding is available?

To help owners of non-domestic properties, including businesses, deal with the impact of COVID-19, the Scottish Government has introduced additional rates reliefs discounts and a one-off grant for some businesses. These reliefs will be available to non-domestic properties from 1 April 2020 to 31 March 2021, and businesses will be able to apply for the grants from 24 March 2020. They will be available to 31 March 2021.

  • Business support fund (£10,000 grant) for those in receipt of Small Business Bonus Scheme (SBBS)
    • Members should note that this relief does not extend to agricultural businesses who are in receipt of SBBS purely for shootings/sportings
More information on how to apply is online at: https://www.mygov.scot/non-domestic-rates-coronavirus/   

Members should note that this relief does not extend to agricultural businesses who are in receipt of Small Business Bonus Scheme purely for sporting rates (deer forests).


I operate self-catering accommodation on my farm, can I claim this grant?

As at the 28th of March, Scottish Government has announced that some on farm self-catering accommodation (which was previously excluded) is now eligible for grant relief. Where income from the self-catering venture exceeds that from the farm, grant relief should be possible. Members should apply though their relevant local authority.

You can find further information on further business resilience measures at the Scottish Government business support hub at: https://findbusinesssupport.gov.scot/coronavirus-advice


I have heard that finance payment ‘holidays’ are available, how can I access these?

Some finance providers are offering payment holidays to help farmers with cashflow. If you wish to take advantage of this, you should contact your provider to discuss. You should read any small print carefully to ensure that you are well informed to make a decision that is in the best interests of your business.


What is the Trade Credit Insurance Guarantee?

On 13 May 2020, the UK Government announced it would temporarily guarantee business-to-business transactions supported by Trade Credit Insurance to provide stability to supply chains. The scheme is not yet live, but more information is available here:  https://www.gov.uk/government/news/government-to-support-businesses-through-trade-credit-insurance-guarantee


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