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Government announce new £20m grant for small businesses

New grant announced for small businesses

The government has announced a new £20m grant scheme to help thousands of smaller, independent businesses in England to 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.

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.

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

“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 scheme 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.

More information will be available in due course.