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BUSINESS FOCUS: £20 million in new grants to boost recovery of small businesses

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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.

Small and medium sized businesses will have access to grants of between £1,000 – £5,000 to help them access new technology and other equipment as well as professional, legal, financial or other advice to help them get back on track.

Commenting on the announcement, minister for regional growth and local government, Simon Clarke MP, said: “We have always said that we would stand behind our businesses and communities as we rebuild following the coronavirus pandemic. This new funding does exactly that.

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“Businesses will be able to use these new grants to pay for the expertise, equipment and technology they need to adapt, recover and rebuild.”

Adding: “Small and medium sized businesses are the beating heart of communities; they provide employment and contribute significantly to local economies and we are determined to give them the support they need to continue to thrive.”

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.

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Alex Douglas

The author Alex Douglas

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