Further support for businesses announced in the Scottish government’s Emergency Budget Review yesterday (November 2) has been broadly welcomed by the Fed which said it should help to keep retailers afloat.
The review extended energy advice to businesses by investing a further £300,000 into Business Energy Scotland. The scheme will also double the value of the small and medium enterprise energy efficiency loan and cash back scheme for energy efficiency up to £20,000.
There was also commitment by the Scottish government to establish a task force to consider the impacts of regulation on business.
The Fed’s national deputy vice president Mo Razzaq said: “We welcome the help being provided which will help to keep small business afloat. This will help, but we need financial support for upgrading our small retailers’ security systems as shoplifting is on the increase with the cost-of-living crisis. Also, with deposit return scheme starting in August 2023, the installation of this for small business will cost a substantial amount of money and government grants are essential.”
The full budget from the Scottish Government is scheduled to be released on December 15, 2022.
Details of which can be found here (https://www.gov.scot/news/emergency-budget-review-published/)