Government announces £20m in grants for small business
The government has announced £20 million in new funding to help smaller businesses recover from the effects of the coronavirus pandemic.
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, Minister for Regional Growth and Local Government Simon Clarke has announced.
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.
"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," said Mr Clarke.
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," Mr Clarke added.
The government's announcement builds on a £10 million package announced by the minister earlier this month to help to kickstart the tourism industry and support the visitor economy.
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.