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New grants to help fund recovery for SMEs

The Government has announced £20m in funding to help SMEs in England recover from the effects of the COVID crisis.

SMEs can access grants for new technology and other equipment. The grants can also be used for professional, legal, financial and other advice to assist in their recovery.

Typically, the grants will be awarded up to a maximum of £3,000 per business, but, under certain circumstances, £5,000 may be available.

Access to the grants is now open and must be awarded by 28th February 2021. The activity the grant supports must be completed by 31st March 2021.

Growth Hubs run by Local Enterprise Partnerships (LEPs) manage the grants, and there is a strict qualifying criterion determined by each LEP. Therefore, businesses should contact their local Growth Hub to understand the requirements for their application.

Given our experience helping clients with grant applications from LEPs, we know that the process is not straight forward and can be time-consuming. Therefore, if you require assistance with your application, please contact your local TC advisor on 0330 088 7111.

For more information contact www.tc-group.com

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