Small businesses set to benefit from further government funding

Thousands of smaller businesses in England are set to benefit from £20 million of new government funding to help them recover from the effects of the coronavirus pandemic.

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Small and medium sized businesses will have access to grants of between £1,000 – £5,000. The grants can be used to access new technology and other equipment as well as professional, legal, financial or other advice.

It comes on top of a package of Government support to help businesses to recover, including the £2 billion Kickstart Scheme which will create hundreds of thousands of new, fully subsidised jobs for young people across the country. £1.6 billion will also be invested in scaling up employment support schemes, training and apprenticeships.

Key information

  • The support will be fully funded by the Government with no obligation for businesses to contribute financially
  • The funding is supported by the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Ministry of Housing, Communities and Local Government is the Managing Authority for the European Regional Development Fund in England. For more information click here
  • The funding has been allocated to Growth Hubs within each LEP area in line with the current ERDF Programme

Activities supported through the £20 million can include:

    • One-to-many events providing guidance to respond to coronavirus
    • Grants (£1,000 – £5,000) to help businesses access specialist professional advice such as HR, accountants, legal, financial, IT and digital, and to purchase minor equipment to adapt or adopt new technology

For further information, visit the government website.

 

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