The government has announced a new £20m grant scheme to help Small and Medium-sized Enterprises (SMEs) as part of their package of measures to support businesses during the COVID-19 pandemic.

The funding will provide grants of between £1,000 and £5,000 to help eligible businesses in England access new equipment and technology as well as professional, legal, financial and any other specialist advice necessary to help them adapt, recover and rebuild. Grants can be used for advice in areas such as HR, accountancy and IT.

No financial contribution will be required from businesses claiming under the scheme. The funding will come via Local Enterprise Partnerships (LEPs) of which there are currently 38, with each LEP area being allocated a pot of at least £250,000 to establish a grant programme.

The funding is being provided to address immediate needs and all grants must be awarded by 28 February 2021 and all activity fully completed by 31 March 2021.

More details are expected soon about how the grants will work and when businesses can start claiming under the scheme.

Links

COVID-19: Government support tracker
This tracker covers measures announced by the government to support individuals and businesses, as we get through COVID-19.

COVID-19: Grant funding for business
What cash grants are available to support businesses during the Cornonavirus crisis?

COVID-19: Discretionary Grant Fund
A Discretionary Grant Fund is available for small and micro-businesses that are adversely affected by the Coronavirus and are not eligible for other grant schemes.

External link

Press release: £20 million in new grants to boost recovery of small businesses

 

 

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