The Government has announced new grants aimed at smaller businesses in England worth £20 million to help them obtain the support they need to recover from the effects of the coronavirus pandemic.
Under the new initiative, small and medium-sized businesses will be able to obtain grants of between £1,000 – £5,000 that can be used to help them gain access to new technology and equipment and/or professional, legal, financial, or other advice, including additional support from an accountant.
The grants on offer will be fully funded by the Government and businesses that use the funding will have no obligation to provide financial contributions.
A minimum of £250,000 for all LEP areas is being allocated and the provision of resources will be further reviewed as the grant fund is delivered.
To apply and find out more, please locate and contact your local area Growth Hub. Details of all Growth Hubs can be found here. Lancashire businesses interested in finding out more should visit the Boost Business Lancashire website here.
At PM+M we have been offering consultations for businesses and individuals, these sessions are proving invaluable, allowing us to help both businesses and individuals gain a thorough understanding of the current situation and help maximise any opportunities and to stay agile to the challenges ahead.
If you have any questions on our consultations or the funding available, please contact us on 01254 679131.
Further details of how businesses can apply for this funding are expected soon.
This information is correct as of 20 August 2020. This blog is for general guidance only. Recipients should not act upon any of the information provided without seeking specific professional advice tailored to your circumstances, requirements or needs. Please contact PM+M before making any decisions based on any matters relating to this blog.