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New £1,000 – £5,000 government grants for small businesses

by | Aug 7, 2020 | Accounting, Business owners, Construction, Covid, Owner managed business, Start ups, Uncategorized

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The government has announced a new grant scheme targeted at small and medium-sized businesses. Organisations can apply for grants of between £1,000 – £5,000 to help them access new technology, equipment, and specialist advice.

The grants are part of the government package of support for small businesses to help them recover from the effects of the coronavirus pandemic. They are specifically to help businesses access specialist professional advice in areas such as HR, accounting, legal, financial, IT and digital development. The grants can also be used to purchase equipment and to develop new ways of using technology in order to maintain their business activity or to allow them to diversify.

The move was announced at the end of July by Simon Clarke, the minister for Regional Growth and Local Government. The measures will amount to an additional £20 million in government funding.

The funding has been allocated to Growth Hubs within each Local Enterprise Partnership area in line with the current ERDF Programme. Further details on the grants and how to apply will be released in the coming weeks.

In the meantime: