More than 1000 businesses across Dundee have been supported to the tune of £12.1m by the Coronavirus Business Support Fund since its launch earlier this month.
Grant payments are being made under the Scottish Government scheme offering help to small businesses in receipt of Small Business Bonus Scheme Relief or Rural Relief and hospitality, leisure and retail businesses with properties with a rateable value between £18,001 and £51,000.
John Alexander leader of Dundee City Council said: “This is quite an incredible sum of money to be paid out in something like three weeks.
“Businesses have been granted either £10,000 or £25,000, which does not have to be paid back, and this money can make the difference between a local firm or small enterprise staying afloat or being driven under.
“Firms need this direct support as fast as we can get it to them and we are working as hard as we can to make this happen.
“I recognise that this is lifeline funding, and we are putting in considerable effort to ensure that applications are processed as quickly as possible. The figures so far pay testament to that, but for those still waiting I would ask for patience and reassure them that we will be in touch as soon as possible to let them know the outcome of their application.
“The Coronavirus Business Support Fund has been put in place to try to ensure that when we come out of these times that Dundee has a solid business base to build on.”
The first of the 1056 grants of £10,0000 to small business and £25,000 to hospitality, leisure and retail businesses were paid at the start of April and payments continue to be made on a daily basis.
Advice for local businesses, including ways of accessing financial support, is available at https://www.dundeecity.gov.uk/service-area/city-development/planning-and-economic-development/covid-19-advice-for-business
Dundee City Council
Dundee draws skilled workers from a 60-minute catchment population of 640,000 and has a local population of over 140,000. The availability of a large pool of highly skilled labour is a key feature in the Dundee economy. Flexibility in the labour force is currently more prevalent in Dundee than in Scotland as a whole. All forms of labour market flexibility - part-time, temporary employment, self-employment and shift work - are widely operational within the city. Labour force stability in the city is excellent, enabling companies to plan with confidence. Labour turnover levels are less than 5% and absenteeism averages 2%.
