A key Fife business that’s been hit hard by Covid-19 said Scottish Government support has helped secure 40 full time jobs.
Knockhill Racing Circuit by Dunfermline is one of more than 200 companies in Tayside and Fife that has accessed the Pivotal Enterprise Resilience Fund.
Knockhill received a £150,000 grant from the fund, which was established for vulnerable Scottish SMEs deemed vital to local, regional and national economies.
Managing director Jillian Shedden admitted the facility has been badly impacted by the coronavirus lockdown.
She said: “The start of lockdown was right at the start of the peak season. Like many seasonal businesses there is real concern that there will be no season this year and we will be back into the winter season before things are back to normal.
“The income streams for the business span the worst hit industries during the coronavirus – tourism, leisure, hospitality, sporting events and mass gatherings.”
Ms Shedden said the support alongside the Job Retention Scheme and the local authority rates relief have helped to cover the substantial overheads of the 220 acre site and secure 40 full time jobs.
The latest figures show that more than £121 million has been distributed to 1763 businesses in Scotland through the Pivotal Enterprise Resilience Fund, which was administered by Scottish Enterprise.
Broken down by local authority area, 71 companies in Perth and Kinross have received £5.2m, 66 Fife firms have £4.5m while 29 Angus enterprises have received £2m and £3m has been granted to 39 Dundee companies.
Dundee-based healthtech company MyWay Digital Health received £74,000 to continue to support the NHS with its innovative diabetes applications.
Dundee Science Centre received £30,000 to develop its strong digital offering to keep engaging with its audience.
Arbikie Distillery, based in Lunan Bay, received £50,000 from the fund after its sales plummeted.
Director John Stirling said: “The effect of Covid on our business has been substantial. Overnight we lost over 90% of our spirit sales. It is going to be a long road back for everyone.
“Unfortunately, there is no overnight solution and we needed to completely review our business and long-term strategy.
“Scottish Enterprise offered fantastic support through the Pivotal Enterprise Resilience Fund. This simply made a huge difference and gave us the ability and confidence to move forward with our plans.”
The distillery, which overlooks Lunan Bay, had been making hand sanitiser free in support of NHS district nurses, care homes, 45 Royal Marines and many critical businesses throughout Tayside.
Dundee waxed fabric manufacturer Halley Stevensons received funding of £105,000 which managing director Jimmy Campbell said helped the firm support suppliers.
He said: “We have long standing relationships with our industry partners and have backed our supply chain throughout this crisis to ensure we haven’t cancelled any raw material orders.
“However, as these were based on larger through-put projections the grant has helped us to manage the resultant strain on our cash flow.”
The textile firm has entered new markets and has recently been making Sunny Dundee facemasks following on from work undertaken to supply gowns to the NHS during the pandemic in conjunction with Dundee University.
Blairgowrie-based Wood Leisure said a £100,000 grant helped it to introduced strict safety measures at its six holiday parks.
Chief executive of Scottish Enterprise Steve Dunlop said: “It is not an easy time for many businesses and Scottish Enterprise is working hard to provide funding, advice and resources to ensure businesses not only survive, but thrive now and in future.”
