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The Scottish Government’s chief economist has warned that Scotland’s economy may not return to pre-pandemic levels until the start of 2023.

It was widely reported last week that Scotland could have the worst performing economy in the developed world following COVID-19. The most recent economic figures revealed that GDP fell by more than 23 per cent since February, plunging by 18.9% during April. The challenges facing businesses in light of Covid-19 are, without doubt unparalleled, it would be hard to imagine a more concerning outlook. 

Scottish Business Cares (SBC) is a recently formed goodwill collective delivered by the Scottish Business Resilience Centre (SBRC) in partnership with the Scottish Government. The SBC Mentoring Programme which launched last week, is delivering immediate business support for companies who would benefit from support in overcoming challenges as we come out of lockdown, as well as mapping out their future paths to success.

WHO, WHAT & HOW?

Open to all Scottish businesses, regardless of size and industry sector, the mentoring will take place online, thereby lifting any geographical barriers. Successful applicants will receive 7 hours of mentoring, focused on steering your business down the right route to success. Initially identifying the current challenges you face, the mentors will work with you on key aspects of your business which will have the most impact; finding tangible, impactful solutions to your key challenges.

EXPERT, PRACTICAL GUIDANCE & SUPPORT

Ten successful entrepreneurs and senior business leaders will be mentoring organisations looking to map out their route to recovery. They all have previous economic crisis experience gained during the 2008 financial crash as well as a strong track record of business growth and success.

They have also agreed to use their extensive networks to enable introductions that will benefit mentees. The team is backed by specialist advice where required, from experts in the fields of investment, legal and financial management as well as grant funding and support from the public sector and governments.

SBC is hosting a webinar on Tuesday 23rd June from 12:00 – 12:30pm on Zoom, click HERE to register.

The Mentoring Programme will make a tangible difference to businesses whilst helping to bolster the Scottish economy on the road to recovery.

Jude McCorry, CEO of SBRC, said: SBRC have been running Business Resilience webinars specific to Covid-19 since March, giving nearly 3,000 people the high level advice they need to make decisions around legal and financial challenges.

“What we now need is one-to-one mentoring for organisations who require more specific support to overcome immediate challenges and get back on their feet. We are delighted to work with Scottish Government to provide this.”

Applications for the Mentoring Programme are open until Friday 26th June at 5pm, click HERE to find out more.

In addition to the mentoring programme, SBC are hosting webinars on the practical, financial, and legal issues businesses are facing as a result of the Covid-19 outbreak. It is also developing an app with a range of functionality including an assessment tool for organisations to review and support resilience planning.

Categories: Coronavirus