Small businesses in England are set to benefit from an additional £20 million in funding to help them recover from the coronavirus (COVID-19) pandemic.
The government recently announced that small and medium-sized businesses will have access to grants of between £1,000 and £5,000 to help them recover from the effects of the pandemic.
The funding will allow businesses to access new technology as well as professional, financial and legal advice to help them get back on track and to purchase minor equipment to adapt or adopt new technology in order to continue to deliver business activity or diversify. The grants will be fully funded by the government, and there will be no obligation for businesses to contribute financially.
Commenting on the funding, Simon Clarke, Minister for Regional Growth and Local Government, said: ‘We have always said that we would stand behind our businesses and communities as we rebuild following the COVID-19 pandemic. This new funding does exactly that. Businesses will be able to use these new grants to pay for the expertise, equipment and technology they need to adapt, recover and build.’
If you require accountancy or taxation advice and would like to take advantage of this new funding pot to assist with the costs, please get in touch and we will help you to access the financial support.