Local Government Minister Derek Mackay made the announcement on Wednesday.
Business Improvement Districts (BIDs) put forward financial models in order to support businesses in specific areas of towns, cities and commercial districts.
They can be used alongside public sector investment to contribute to and create sustainable economic growth, as the businesses work together to reduce costs, share risks and create new opportunities.
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Minister Derek Mackay said: "The Business Improvement District initiative links directly to this Government’s commitment to support sustainable economic growth and is particularly relevant in the current economic climate. The initiative supports private and public sector partners in working together to invest in improvements to the local business environment, while contributing to the wider regeneration of the local community.
"Partners will now use the seed corn funding we have provided to develop their proposals and work to enhance the prosperity of Paisley's town centre."
He added: "I look forward to seeing the Paisley BID progress and wish all involved well."
Piero Pieraccini, Chair of the Paisley Development Trust said: "I welcome the decision by the Scottish Government to give £20,000 grant funding to take forward the Business Improvement District for Paisley. We look forward to working with people locally to take it to the next stage. This will kick-start activity, and is great news for the town."
(IT)
