£20 million of new government grants have been released to help small and medium sized businesses recover from the effects of the coronavirus pandemic.
Thousands of small and medium sized businesses in England are set to benefit from a new £20 million government fund to help them recover from the effects of the coronavirus pandemic, the Minister for Regional Growth and Local Government has today (30 July 2020) announced. They will have access to grants of between £1,000 and £5,000 to help access new technology and other equipment as well as professional, legal, financial or other advice to get them back on track.
The support will be fully funded by the government from the England European Regional Development Fund and distributed through Growth Hubs, embedded in local areas across England.
- The support will be fully funded by the Government with no obligation for businesses to contribute financially.
- The funding has been allocated to Growth Hubs within each LEP area in line with the current ERDF Programme.
- Grants of £1,000 to £5,000 are to help businesses access specialist professional advice such as accountants, legal, HR, financial, IT and digital, and to purchase minor equipment to adapt/adopt new technology in order to continue to deliver business activity or diversify.