Government announces £20 million Brexit support funding for SMEs

SMEs can now apply for grants of up to £2,000 in order to help them adapt to the new customs and tax rules when trading with the EU.

The £20 million SME Brexit Support Fund will enable traders to access practical support, such as:

• Training for new customs
• Rules of origin
• VAT processes.

The government is encouraging small and medium sized businesses that trade solely with the EU (and are therefore new to importing and exporting processes) to apply for the grants.

To be eligible, businesses must import or export goods between Great Britain and the EU, or move goods between Great Britain and Northern Ireland.

Katherine Green and Sophie Dean, Directors General, Borders and Trade, HMRC, said, “We recognise that changes to customs rules have been challenging for small and micro businesses, and this is why we are encouraging business owners to apply for support through the SME Brexit Support Fund.

“We do not take for granted that the UK’s small businesses – from designers creating bespoke handmade pieces from their kitchen tables, to those selling sweet treats – are vital to the growth and prosperity of our economy, so we look forward to supporting them with practical help to do business with our European partners, on top of a wide range of support available from the government.

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