Scotland’s Pivotal Event Businesses Fund
The Pivotal Event Businesses Fund has been set up to help the survival of pivotal events businesses whose role, as primary organisers, suppliers, contractors and venues, is critical to the ongoing success of the events sector in Scotland.
The fund will be delivered by VisitScotland on behalf of the Scottish Government and eligible businesses must submit an Expression of Interest (EOI) via an online form from midday on Wednesday 16 December 2020 until 5pm on Tuesday 22 December 2020. Late EOI’s will not be accepted.
From the EOI’s, only around 50 – 100 organisations, which meet or exceed the eligibility criteria and which are assessed to represent a sectoral and geographical spread of the most significant events businesses in Scotland, will then be asked to submit a full application for a grant of between £25k and £150k. Not all businesses who are invited to apply may be successful in receiving a grant award, and those who are successful may not receive the full amount requested.
Successful applicants will be those that are pivotal in the events sector in Scotland who are experiencing financial problems that threatens insolvency or significant job losses due to the impact of COVID-19 and whose financial status at the end of the 20/21 tax year is projected to be worse than it was at the end of the 19/20 tax year.
Pivotal will mean events businesses who operate at a size and scale in their sector and/or location where loss of insolvency would have a significant detrimental impact on Scotland’s ability to continue to host and stage major events.
To qualify businesses must have had a turnover per the latest filed accounts of at least £500k and have delivered or supplied to at least 5 events. For those in the supply chain or who operate a venue the businesses must have been involved in more than 50 events.
For further information businesses should use the following link:
https://www.visitscotland.org/events/funding/pivotal-event-businesses-fund
The information in this blog provides only an overview of Scottish Government guidance and legislation in force at the date of publication and no action should be taken without consulting the detailed Scottish Government guidance and legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the material contained in this blog can be accepted by the firm.
Photo by Chari Bercián on Unsplash
