Support for the Scottish Fishing Industry

The Scottish Government has announced two additional funds to support the fishing industry. 

Scottish Seafood Business Resilience Fund

The Scottish Government set up a  £10 million fund to support shellfish and seafood processing businesses who are being affected by the Covid-19 outbreak.   The deadline for this is 5pm on Monday 20 April.  

The grant can only be used for the purpose of contributing to the fixed costs of the business.

The maximum level of grant available for businesses with average annual earnings over a 3-year period up to £1.5 million will not exceed 4% of those earnings. 

The maximum level of grant for businesses with average annual earnings over a 3-year period over £1.5 million will not exceed 3% of those earnings, up to a maximum level of grant of £100k. 

The amount of the grant is calculated using the value of the fixed costs.  If the fixed costs are higher than the average turnover, then the grant available will be capped at 3%/4% of the average turnover.

More information can be found  HERE

Aquaculture Hardship Fund

The Scottish Government have made set up an Aquaculture Hardship Fund to provide emergency support to shellfish and trout undertakings  who have lost all or part of their relevant market due to the COVID-19 outbreak with support available up to £3 million.

The maximum level of grant may vary depending on the business and the application, with the absolute maximum available being £27k.

The amount of the grant is based on the turnover of the business.

More information can be found HERE

If you require assistance to complete the application form or have any queries relating to either of the funds please do not hesitate to get in touch with James Smith james.smith@acumen.info or Fiona Ferrol fiona.ferrol@acumen.info.