It has been announced by the Minister for Regional Growth and Local Government that 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.
This all comes on top of an unprecedented package of Government support to help businesses to recover, including the £2 billion Kickstart Scheme which is set to create hundreds of thousands of new, fully subsidised jobs for young people across the country, as well as £1.6 billion invested in scaling up employment support schemes, training and apprenticeships to help people looking for a job.
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.
Activities supported through the £20 million can include:
- One-to-many events providing guidance to respond to coronavirus,
- Grants (£1,000 – £5,000) to help businesses access specialist professional advice such as HR, accountants, legal, financial, IT and digital, and to purchase minor equipment to adapt or adopt new technology in order to continue to deliver business activity or diversify
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