The Minister for Regional Growth and Local Government has announced £20 million in new funding in order to help thousands of smaller sized businesses to recover from the effects of the 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, commented, “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.”
He added, “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.”
This latest funding comes on top of an unprecedented package of government support to help businesses to recover, including the £2 billion Kickstart Scheme which will 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.
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