Almost £7.5m provided to local businesses during pandemic

NEARLY £7.5 million in coronavirus support funding has now been approved for Shetland businesses.

As of Tuesday (17 June) a total of £7,497,500 million had been approved through the small business and retail, hospitality and leisure fund grant funds.

Shetland Islands Council’s acting economic development manager Tommy Coutts said the council, which is administering the funds locally, had received 776 applications, with 680 grants awarded.

The small business grant offers up to £10,000, while the retail, hospitality and leisure fund provides £25,000.

The Coronavirus Business Support Fund was announced by the Scottish Government in March as part of a range of measures designed to support businesses through the coronavirus crisis.

From Monday (15 June) B&Bs which were ineligible for support due to not having a business bank account were able to apply to a new £3 million fund.

Chairman of Shetland Islands Council’s development committee Alastair Cooper previously said the fund was a “welcome lifeline for local businesses during these difficult times”.

The closing date for applications is 10 July 2020.