finance

Arts & Business Scotland announces updated Covid-19 funding strand



Arts & Business Scotland has announced a new funding strand to support the cultural heritage sector in its recovery from the pandemic.

The Culture & Business Fund Scotland COVID-19 Renewal & Recovery Strand aims to create long lasting relationships between organisations in the commercial, public and culture sectors.

It is a continuation of the existing Culture & Business Fund Scotland (CBFS) fund, but is subject to fewer regulations in terms of eligibility, enabling more businesses, public bodies and culture organisations to apply than last time.

The CBFS is usually provided to organisations that invest or sponsor arts or heritage activity within Scotland.

It provides potential match-funding of business investment in, or sponsorship of, an arts or heritage organisation within Scotland for up to a three-year period, with the CBFS providing 50% match funding against the business investment for year two and 25% match funding for year three.

The new fund offers up to three years of 100% match funding between £1,000 -£40,000 and is open to all applicants, including those who have previously received CBFS funding.

The changes to the criteria and guidelines came into effect on 1 March and will be applicable for applications received before 31 March 2024.

David Watt, chief executive at Arts & Business Scotland, said: “Informed by extensive stakeholder engagement and reflecting the impact of the pandemic on every aspect of life, the changes to the Cultural Business Fund Scotland mean more organisations and businesses are eligible than ever before and we hope to inspire the cultural and commercial sectors in Scotland to work together in building the road to covid recovery.”

Helena Ward, creative industries manager at Creative Scotland, added: “It has been an incredibly tough year for everyone, but now is the time for our businesses, culture sector and places of work, to collaborate on, and invest in, creativity.”

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