UK Government Delivering support for Scottish business - GOV.UK
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UK GOVERNMENT SUPPORT FOR BUSINESS IN SCOTLAND The impact of COVID-19 on businesses in the UK has been profound. Financial and advisory support provided by the UK Government helped employers and employees weather the worst of the storm but, with calmer waters and brighter skies ahead, now is the time to invest in our future and foster a more resilient, agile business base. We can build back better — and the UK Government will be there to help firms across Scotland as we do. The UK Government has compiled this practical resource to help businesses in Scotland understand and navigate the wide range of support available. Throughout the document, links will provide further information and take you directly to application processes online. Click here to see what support is available for you and your business. CURRENT AS OF MARCH 2021
RECOVERY & RENEWAL Summary The COVID-19 pandemic is the COVID-19 pandemic. This has Recovery & Renewal greatest challenge humanity has seen coordinated action which faced collectively in decades. respected devolution settlements, Our Plan for Growth Lives and livelihoods have been as well as the ability of the 10 Point Plan devastated, with many of us Devolved Administrations to tragically losing loved ones. People make decisions about devolved Budget 2021 are worried about their health, their matters, including those relating to Coronavirus Job families, and their finances. The public health. The UK and Scottish Retention Scheme pandemic continues to impact Governments have maintained communities in ways that could not regular dialogue at all levels Self-Employment have been previously imagined. from the outset of the COVID-19 Income Support pandemic and will continue to Scheme (SEISS) The UK Government has been work closely and cooperatively. clear that a UK-wide approach DWP Kickstart is necessary to respond to the EU Transition Innovate Funding International Trade Export Finance You can use the British Business Bank menu on the left to navigate this UK Points-Based document. Immigration System Click blue text to access more 3 information online
OUR PLAN FOR GROWTH Summary The UK Government is now looking Our plan to build back better Recovery & Renewal beyond the immediate support takes a transformational approach, measures that sustained the entirety tackling long-term problems to £4.8bn Our Plan for Growth of the UK, including Scotland, deliver growth that creates high- 10 Point Plan during the COVID-19 pandemic. quality jobs across the UK. Budget 2021 We will retain our focus on The Levelling Up Fund will The UK Government put an unprecedented economic achieving the people’s priorities: enable Scottish communities Coronavirus Job levelling up the whole of the UK, package in place, providing to invest in town centres, Retention Scheme businesses and individuals with supporting our transition to net high streets, local Self-Employment support and certainty over the zero, and supporting our vision transport and Income Support course of the pandemic, spending for Global Britain. In addition, the cultural assets Scheme (SEISS) hundreds of billions to support new Help to Grow programme people’s jobs, businesses, and will help small and medium-sized DWP Kickstart businesses across the UK to learn public services across the UK. new skills, reach new customers EU Transition However, COVID-19 and the and boost profits. Innovate Funding restrictions put in place to stop the spread of the virus caused Two Help to Grow programmes International Trade the largest fall in annual GDP in are scheduled to launch in 300 years. June 2021. Export Finance We are well placed to confront British Business Bank these challenges, rebounding to continued build back better. The UK is one UK Points-Based of the world’s largest economies, Immigration System open and dynamic, with strong institutions and world-class universities. 4
OUR PLAN FOR GROWTH Summary HELP TO GROW: MANAGEMENT confirmed the UK Government will An Executive Development provide over £3.6 billion through Recovery & Renewal programme to help you improve the Barnett formula, on top of Our Plan for Growth business performance and growth existing funding of over £35 billion. You can watch videos and 10 Point Plan potential. register for free webinars More than 90,000 businesses to learn more about the Budget 2021 Express your interest in in Scotland have benefited support available to help Help to Grow: Management from almost £3.5 billion in UK Coronavirus Job you deal with the economic Government loans since the impacts of COVID-19. Retention Scheme HELP TO GROW: DIGITAL COVID-19 pandemic began. In Self-Employment Free online advice and discounts addition, over 750,000 jobs in Income Support on software to help you save time Scotland have been protected Scheme (SEISS) and cut costs. through the furlough scheme, and more than 431,000 grants DWP Kickstart Express your interest in have been paid to self-employed Help to Grow: Digital people in Scotland to the tune of EU Transition over £1.193 billion. The Treasury has provided Innovate Funding unprecedented support for jobs We are now focusing on those and businesses across the UK in actions that will progress the International Trade the face of COVID-19, including transition out of emergency Export Finance an unprecedented £8.6 billion business support measures An additional upfront guarantee to the Scottish and into funding to encourage British Business Bank UK Points-Based Government in the 2020-21 financial year, and a further £1.1 billion to be spent in either 2020-21 long-term growth. £3.6bn Immigration System or 2021-22. In 2021-22, the Budget in UK Government funding will be allocated to Scotland in 2021-22 5
10 POINT PLAN Summary The Prime Minister has unveiled a Generate 5GW of hydrogen Recovery & Renewal 10 Point Plan for a Green Industrial by 2030. Revolution. This plan sets out the This will likely be concentrated Our Plan for Growth approach the UK Government around existing industrial clusters, 10 Point Plan will take to build back better and potentially benefiting areas like support our transition to net zero. Grangemouth in Falkirk, Scotland. Budget 2021 Complemented by a £240 million The 10 Point Plan will mobilise £12 Net Zero Hydrogen Fund, this Coronavirus Job billion of government investment, Retention Scheme could see the UK benefit from and potentially three times as around 8000 new jobs, The UK Self-Employment much from the private sector, to Government’s hydrogen strategy Income Support create and support up to 250,000 will also set out the next steps Scheme (SEISS) green jobs across the UK. Some of to develop the hydrogen sector. the Plan’s stated ambitions are to: Alongside, the UK Government DWP Kickstart will consult on hydrogen business Produce 40GW of offshore EU Transition models which will outline the wind, including 1GW of floating basis of revenue support for the offshore wind, by 2030. Innovate Funding private sector. Utilising future Contracts for Difference rounds, this could International Trade result in significant investment continued Export Finance in Scotland, with the quantum known once the competitive British Business Bank process is completed. The £160 million allocated for ports and UK Points-Based infrastructure upgrades to support Immigration System the deployment of offshore wind will also benefit Scotland. 6
10 POINT PLAN Summary Capture 10Mt of carbon dioxide annually by 2030 in 4 industrial Recovery & Renewal clusters, creating industrial Our Plan for Growth ‘SuperPlaces’ in Scotland, 10 Point Plan Wales and northern England. Budget 2021 The cluster sequencing process will be undertaken in 2021. The £1 billion Carbon Capture, £12bn Coronavirus Job of government Retention Scheme Utilisation and Storage (CCUS) investment will be Infrastructure Fund will provide mobilised as part of Self-Employment industry with the certainty the 10 Point Plan Income Support required to deploy CCUS at Scheme (SEISS) pace and at scale. DWP Kickstart It is anticipated that the extension of the Energy Company Obligation EU Transition to 2026 will positively impact Scotland too. While the exact Innovate Funding size of the scheme is still under International Trade consideration, the ambition is to install 600,000 heat pumps Export Finance annually by 2028, benefiting existing heat pump manufacturers British Business Bank in Scotland. UK Points-Based Immigration System 7
BUDGET 2021 Summary This year’s Budget provides UK- How Scottish businesses wide support to help individuals, have been supported Recovery & Renewal businesses and public services Our Plan for Growth 780,000 manage the ongoing impacts of 10 Point Plan COVID-19. Jobs and businesses in Scotland will continue to be Budget 2021 supported through the extension jobs in Scotland were of the furlough scheme and the supported by the UK-wide Coronavirus Job Retention Scheme Self-Employed Income Support furlough scheme at its peak Scheme, whilst the tourism and The UK-wide Eat Out to Self-Employment hospitality sectors will benefit Help Out scheme supported Income Support Scheme (SEISS) from a VAT reduction and COVID-19 related income tax 157,000 nearly 4,800 outlets in Scotland. £42.9 million exemptions for employees. people in Scotland was claimed back by DWP Kickstart have been supported participating vendors. Towns and communities across EU Transition by the UK-wide Self- Scotland will be empowered Innovate Funding to direct local investment into improving town centres, high Employment Scheme, to the tune of £1.13 billion £3.4bn International Trade streets, local transport and cultural has been loaned to support assets through the £4.8 billion over 90,000 Scottish Export Finance Levelling Up Fund, the Community businesses as a result of Ownership Fund, Community UK Government initiatives British Business Bank Renewal Fund, and through accelerated funding for the UK Points-Based Immigration System Ayrshire, Argyll and Bute, and Falkirk City and Growth Deals. 8
CORONAVIRUS JOB RETENTION SCHEME Summary Recovery & Renewal Our Plan for Growth 10 Point Plan Employees on temporary leave THE OFFER Before you apply, you (furlough) due to COVID-19 Anybody with a UK PAYE payroll will need to work out Budget 2021 scheme can apply, including how much you can claim WHO IS IT FOR? businesses, charities, recruitment through the scheme. Coronavirus Job Anybody with a UK payroll can agencies and public authorities. Retention Scheme apply, including businesses, You can claim 80% of an Self-Employment charities, recruitment agencies employees usual salary for hours Income Support and public authorities. Scheme (SEISS) not worked, up to a maximum of £2,500 per month. HOW CAN I ACCESS IT? DWP Kickstart Employees will receive 80% of CHECK ELIGIBILITY their usual salary for hours not EU Transition worked, up to a maximum of Innovate Funding Register for the next live webinar £2,500 per month. about the Coronavirus Job International Trade Retention Scheme. The Coronavirus Job Retention Scheme has been extended until Export Finance This webinar gives an overview of: the end of September 2021. ● The extension of the scheme 780,000 British Business Bank ● How employers will be affected UK Points-Based ● Flexible furloughing Immigration System ● Key dates ● Support available jobs in Scotland were protected through the furlough scheme at 9 its peak
SELF-EMPLOYMENT INCOME SUPPORT Summary Recovery & Renewal SCHEME (SEISS) Our Plan for Growth 10 Point Plan Budget 2021 WHO IS IT FOR? THE OFFER A series of live webinars about Coronavirus Job If you’re self-employed or a In the 2021 Budget, it was claiming the fourth SEISS grant Retention Scheme member of a partnership and confirmed that the fourth SEISS are planned. Bookings will have been impacted by grant will be available from late open soon. Self-Employment Income Support COVID-19, you may be April 2021. It will be set at 80% of eligible to claim a SEISS grant. 3 months’ average trading profits, The UK Government has Scheme (SEISS) paid out in a single instalment, announced there will be a fifth DWP Kickstart up to £7,500. The fourth grant and final grant covering May to HOW CAN I ACCESS IT? will take into account 2019/20 September 2021. EU Transition tax returns and be open to those CHECK ELIGIBILITY You will be able to claim from who became self-employed in Innovate Funding late July if you are eligible for the 2019/20 tax year. The rest the fifth grant. Further details will International Trade of the eligibility criteria remain be provided on the fifth grant in unchanged. due course. Export Finance Your eligibility for the scheme will 431,000 British Business Bank now be based on your submitted 2019/20 tax return. This may also UK Points-Based affect the amount of the fourth Immigration System grants have been paid grant which could be higher or to self-employed people lower than previous grants you in Scotland may have received. 10
Summary DWP KICKSTART Recovery & Renewal The £2 billion Department for Our Plan for Growth Work and Pensions (DWP) Kickstart Scheme puts young 10 Point Plan people at the heart of our The Kickstart Scheme Budget 2021 economic recovery. The scheme will help young people provides funding to employers Coronavirus Job to create new job placements for to gain experience, Retention Scheme 16 to 24 year olds on Universal build skills, and boost Credit who are at risk of long-term Self-Employment unemployment. their career prospects. Income Support Scheme (SEISS) For many young people, a lack of real-world work experience can continued DWP Kickstart be a barrier to the job market. The EU Transition Kickstart Scheme will address this by helping young people Innovate Funding to gain experience, build skills, and boost their career prospects. International Trade The scheme is intended to complement other schemes for Export Finance young people. British Business Bank The DWP is working closely with UK Points-Based its counterparts in the Scottish Immigration System Government to discuss how the Scottish Youth Guarantee offer will work alongside the Kickstart 11 Scheme as their policy develops.
DWP KICKSTART Summary WHO IS IT FOR? Employers can spread the start Employers of all sizes. As date of the job placements up until Recovery & Renewal of 3 February 2021, smaller the end of December 2021. Our Plan for Growth organisations can apply directly without having to use a gateway Further funding is available for 10 Point Plan organisation. training and support so that young Budget 2021 people on the scheme can secure employment in the future. Coronavirus Job HOW CAN I ACCESS IT? Retention Scheme APPLY ONLINE Self-Employment Income Support Scheme (SEISS) THE OFFER Employers of all sizes can apply DWP Kickstart for funding which covers: EU Transition ● 100% of the Innovate Funding National Minimum Wage or International Trade National Living Wage (depending on the age of the Export Finance participant) for 25 hours per week for a total of 6 months British Business Bank ● Associated employer National UK Points-Based Insurance contributions Immigration System ● Employer minimum automatic enrolment contributions 12
Summary EU TRANSITION Recovery & Renewal Doing business with Europe has HOW CAN I ACCESS IT? changed. UK businesses now need Brexit checker Our Plan for Growth to follow new rules on exports, 10 Point Plan imports, tariffs, data and hiring Webinars and videos for Budget 2021 when trading with firms in European organisations that trade with Union (EU) member states. the EU Coronavirus Job Retention Scheme Information for all types of If you move goods between Great businesses in Scotland can be Britain and Northern Ireland: Self-Employment found on gov.uk, including a Brexit Income Support checker which can generate a The Trader Support Service Scheme (SEISS) personalised list of actions for you, your business and your family. DWP Kickstart EU Transition WHO IS IT FOR? Any organisation which: Innovate Funding ● Trades with firms in the EU ● Employs people from EU International Trade countries Export Finance British Business Bank UK Points-Based Immigration System 13
Summary INNOVATE UK FUNDING Recovery & Renewal Innovate UK is part of UK Research HOW DO I ACCESS IT? and Innovation (UKRI). Innovate Our Plan for Growth UK supports innovative ideas and HOW TO APPLY 10 Point Plan business growth through grant Budget 2021 funding, loans or procurements. APPLICATION FORM Organisations can apply for Coronavirus Job a funding opportunity. Each support@innovateuk.ukri.org Retention Scheme opportunity has its own eligibility criteria and scope. Opportunities 0300 321 4357 Self-Employment Income Support are available through the Phone lines are open from 9am to Scheme (SEISS) Innovation Funding Service, where 11:30am and 2pm to 4.30pm, Monday you can find out more about DWP Kickstart to Friday (excluding bank holidays). funding opportunities and which ones may be right for you. EU Transition THE OFFER Throughout the year, Innovate UK Innovate Funding WHO IS IT FOR? offers various types of funding Any businesses that want to International Trade opportunities. Click here to develop new products, services, access a list of open or and processes through innovation Export Finance upcoming opportunities. are eligible for funding from British Business Bank Innovate UK. continued UK Points-Based Immigration System 14
INNOVATE FUNDING Summary CASE STUDY Recovery & Renewal Global Open Finance Centre of Excellence Our Plan for Growth UKRI Strength in Places Fund investment: £23m The GOFCoE will Lead: University of Edinburgh 10 Point Plan Partners: The Financial Data and Technology Association deliver research Budget 2021 (FDATA) Global and Fintech Scotland around Open Finance, Coronavirus Job The Global Open Finance Centre of Excellence (GOFCoE) aiming to rebalance Retention Scheme will develop world-class technology and education markets in favour to enhance financial services and deliver social and Self-Employment of consumers economic benefits. It will provide a trusted environment to Income Support address pressing societal challenges and research around Scheme (SEISS) Open Finance, aiming to rebalance markets in favour DWP Kickstart of consumers and deliver long-term research insights into public earning, spending and saving. It will draw on EU Transition expertise from across Scotland’s universities, financial services and financial technology sectors and will establish Innovate Funding ethical standards, train new talent to expand the sector, and build local, national and international partnerships. International Trade Export Finance continued British Business Bank UK Points-Based Immigration System 15
INNOVATE FUNDING Summary CASE STUDY: Recovery & Renewal The Living Laboratory Our Plan for Growth UKRI Strength in Places Fund investment: £38m The Living Lab is Lead: University of Glasgow 10 Point Plan Partners: Thermo Fisher Scientific, Canon Medical Research projected to deliver Budget 2021 Europe Ltd, Siemens Healthcare Ltd, NHS Greater Glasgow 446 high-value jobs and Clyde Health Board, Bioclavis, Aridhia, MR Coiltech Ltd, Coronavirus Job Glasgow Science Centre, Scottish Enterprise, Glasgow City and £136 million over Retention Scheme Council, Kadans Science Partner UK Ltd, Precision Medicine an eight-year period Self-Employment Scotland and iCAIRD Ltd Income Support The University of Glasgow’s Precision Medicine Living Lab Scheme (SEISS) will translate cutting-edge science and innovation into a DWP Kickstart real-world clinical setting. The Living Lab will be situated at the University of Glasgow academic campus adjacent to the EU Transition Queen Elizabeth University Hospital in Govan. It will build on the city’s existing world-leading ecosystem and, by facilitating Innovate Funding even more cross-sector collaborations, will address the biggest challenge currently facing Precision Medicine: the International Trade translation of research innovation into clinical practice for the Export Finance benefit of patients. The Living Lab is projected to deliver 446 high-value jobs and £136 million over an eight-year period. British Business Bank UK Points-Based Immigration System 16
Summary INTERNATIONAL TRADE Recovery & Renewal Trade is crucial to the UK’s recovery committed to working closely Our Plan for Growth 10 Point Plan from COVID-19 and the UK Government wants to ensure that businesses in Scotland benefit from with the Scottish Government to deliver a trade policy that works for Scotland and the whole of the 66 The number of countries Budget 2021 new trade deals with the world’s United Kingdom. that we have agreed biggest markets, as we remove DIT is also establishing a new trade trade deals with — plus Coronavirus Job barriers that they previously faced. and investment hub in Edinburgh, the EU — that account Retention Scheme Already, the Department for which will channel the economic for £890bn of UK Self-Employment International Trade (DIT) has benefits of Global Britain directly bilateral trade Income Support reached deals covering 63% of into Scotland. Together with DIT in 2019 Scheme (SEISS) UK trade, including with the EU. Hubs in other parts of the UK, The DIT is also making good it will be central to DIT’s new DWP Kickstart progress on negotiations with exports campaigns, which will help EU Transition the USA, Australia, New Zealand businesses in key industries take and with our accession to the advantage of trade opportunities Innovate Funding Comprehensive and Progressive around the world. Agreement for Trans-Pacific International Trade Partnership (CPTPP). We are Find out more Export Finance British Business Bank 119 UK Points-Based The number of countries Immigration System in which DIT has a presence, employing over 5100 staff worldwide 17 *figures correct as of January 2021
Summary EXPORT FINANCE Recovery & Renewal If you are already actively WHO IS IT FOR? exporting, or considering it, the Businesses making the transition Our Plan for Growth UK Government has significant to entering new export markets 10 Point Plan resources and advice to help Budget 2021 you reach new markets across HOW DO I ACCESS IT? the world. More information Coronavirus Job Retention Scheme The UK Government employs The completed form and necessary around 17,300 staff in our supporting documentation should Self-Employment diplomatic and development be submitted to UKEF with the Income Support offices worldwide, including in Scheme (SEISS) application form. 280 overseas embassies and high commissions. DWP Kickstart continued UK Export Finance (UKEF) EU Transition provides the finances occasionally Innovate Funding necessary to help businesses make the transition to entering International Trade new export markets. As the UK Government’s world-leading Export Finance export credit agency, UKEF’s mission is to ensure no viable UK British Business Bank export fails for lack of finance or insurance, while operating at no UK Points-Based Immigration System net cost to the taxpayer. 18
EXPORT FINANCE Summary THE OFFER Recovery & Renewal Win contracts: financing Fulfil orders: guarantee schemes Get paid: insurance Our Plan for Growth The attractive financing terms We can help companies We can help companies manage we can offer to overseas buyers access the support they risks in challenging markets, 10 Point Plan need to fulfil a contract, ensuring that they get paid even of UK goods and services can Budget 2021 help exporters make their offering giving them the confidence where the private market is not more competitive. to take on more contracts able to offer insurance. Coronavirus Job and increase their turnover. Retention Scheme Buyer Credit Facilities Bond Insurance Bond Support Scheme Self-Employment Export Refinancing Facility Export Insurance Income Support Export Development Guarantee Scheme (SEISS) Local Currency Financing Overseas Investment Export Working Capital Scheme Insurance DWP Kickstart Lines of Credit General Export Facility In 2019/20, UKEF provided £110 EU Transition million of support for Scottish We also offer support in relation to exporters, resulting in £118 million Innovate Funding Direct Lending Letter of Credit (LC) confirmation. worth of overseas sales. International Trade Clean Growth Direct To find out more or to discuss Lending Facility eligibility for our support: continued Export Finance customer.service@ British Business Bank ukexportfinance.gov.uk Supplier Credit Financing UK Points-Based Facilities 020 7271 8010. Immigration System Alternatively, contact your local export finance manager. 19
EXPORT FINANCE Summary Recent examples of UKEF CASE STUDY Recovery & Renewal support in Scotland include: In November 2020, PCT Group Sales, a Glasgow-based global Our Plan for Growth ● Providing £88 million in support manufacturer for the energy to the Angolan Ministry of sector, secured a £3 million 10 Point Plan Finance for IQA Group, which contract to supply cranes to build Budget 2021 is headquartered in Paisley, wind turbines for the new Neart to install new electricity na Gaoithe offshore wind farm in Coronavirus Job infrastructure in Northern Retention Scheme Scotland after backing from UKEF. Angola (2019/20). Self-Employment This contract is an example of how ● Guaranteeing over businesses can work with UKEF to Income Support £1 million worth of financing strengthen their position in global Scheme (SEISS) for Dundee-based Rautomead markets and boost their exports DWP Kickstart to supply casting machinery worldwide. It also highlights the to a specialist Chinese metals UK’s position as an international EU Transition manufacturing company in leader in renewable energy. Xi’an (2019/20). Innovate Funding ● Supporting Aberdeenshire- International Trade based design and manufacturing company Export Finance Power Jack to export its British Business Bank electro-mechanical lifting solutions to the Middle East UK Points-Based (2019/20). Immigration System 20
Summary BRITISH BUSINESS BANK Recovery & Renewal The British Business Bank (BBB) THE OFFER is a government-owned business Whether your business has Our Plan for Growth development bank dedicated only just begun, or you’re 10 Point Plan to making finance markets work looking to grow an established Budget 2021 better for smaller businesses. business, a variety of finance options are available. Coronavirus Job WHO IS IT FOR? Retention Scheme The Interactive Finance Finder All types of businesses, whether on BBB’s Finance Hub allows you’re looking for finance to start Self-Employment you to identify the right finance a business, grow to the next level, Income Support option for your needs and goals. Scheme (SEISS) or stay ahead of the competition. The Hub also offers business DWP Kickstart HOW CAN I ACCESS IT? advice on how to deal with debt, Find out more at the British how to make your business EU Transition Business Bank investor-ready, and much more. Innovate Funding International Trade Export Finance British Business Bank 90,000 businesses in Scotland UK Points-Based have benefited from UK Immigration System Government-backed loans, delivered by the British Business Bank 21
UK POINTS-BASED IMMIGRATION SYSTEM Summary Recovery & Renewal Our Plan for Growth 10 Point Plan Our new points-based immigration HOW DO I ACCESS IT? You can also listen on Budget 2021 system will attract the workers Employer information Apple and Spotify. we need to build a high wage, high-skill, high productivity The Home Office has created a Download a full Coronavirus Job Retention Scheme economy. By prioritising skills, podcast episode in partnership transcript of not nationality, this new system with Intelligence Squared to help the podcast. Self-Employment will best meet the specific needs you prepare for the points-based Income Support of Scottish businesses whilst also immigration system. Scheme (SEISS) contributing to the wider economy by growing the tax base and Listen now to Business and the DWP Kickstart attracting the best and brightest future of immigration in 2021. EU Transition international talent. Innovate Funding WHO IS IT FOR? The information is for all International Trade employers who want to Export Finance understand the new points- based immigration system British Business Bank and/or hire from outside the UK (excluding Irish citizens). UK Points-Based Immigration System 22
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