Bulletin of Industry
The Scottish Chambers of Commerce (SCC) said that the funding of £ 375 million announced by the government of the United Kingdom is not enough to save Scottish companies.
As a result of the Treasury’s announcement of £ 4.6 billion in business support following the latest foreclosure measures, the community welcomed the boost in funding.
SCC chief executive Liz Cameron, however, said the funding was inadequate and called on the Scottish government to rapidly allocate the money.
“With new lockdown measures in place until March 2020, the additional support for businesses from the Treasury is necessary and welcome,” said Liz Cameron.
For Scottish companies unable to qualify for grants in the Rishi Sunak kit, £ 375 million
It does not go far enough, however, to minimize the expense of closing our firms.
At a time when staff are worrying about their employment and business owners are trying to prepare ahead as cash runs out, we are asking the Scottish Government to use every penny of this new funding to benefit businesses and save our jobs.
“Billions have already been spent to support millions of businesses – we can’t let businesses fail at the final hurdle we all hope they will.”
The Scottish government is seeking more clarification on funding, Nicola Sturgeon said.
Meanwhile, before the end of the month, both the Federation of Small Businesses (FSB) and the Scottish Retail Consortium (SRC) pushed for grants to be paid out to companies.
Andrew McRae, chairman of FSB Scotland, said, “This new injection of cash could help some of Scotland’s companies survive until the vaccine is rolled out. Before the end of January, the Scottish Government needs to ensure that this new funding reaches companies.”
“The new £375 million should be split between cash grants for smaller, property-based firms and additional help for non-property-based operators that have received little or no help to date,” he said.
“But before any of that can happen, councils and the government need to break through the administrative logjam that’s preventing the money from reaching businesses.”
Part of the Treasury’s funding will see up to 600,000 retail and hospitality firms, depending on their size, earn a grant of up to £ 9,000.
The SRC has predicted that during the duration of the new closure, which would span the period when non-essential stores are required to close from mid-January to Feb. 1, its members will lose up to 675 million pounds.
David Lonsdale, director of the association, said it was “vital” for some funding to be made available to shops that remain closed due to the new restrictions. He called on Kate Forbes, finance minister, to provide “early clarity” on the forthcoming assistance.
Stuart Pender Pender
Scottish property and lettings agency to combine for £ 100 million
Following his company’s merger with Yorkshire-based Linley & Simpson in a £ 100 million transaction, the chief executive of lettings and estate agency firm Lomond Capital has stressed his plans to grow further and build jobs.
As well as other companies in the business, including Thornley Groves in Manchester, Brand Vaughan in Brighton and John Shepherd in Birmingham, Lomond Capital owns Scottish lettings and estate agents Braemore and Stonehouse.
Colin Borland: Small companies need financial support to deal with the burden of Brexit.
Anyone recall all those presentations of refreshing originality on five-year strategic plans in 2015, all called “Our 2020 Vision”?
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