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COVID-19: New SME Grant Scheme

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There is to be a new grant scheme to help SMEs as part of the rescue package of measures to support businesses during the COVID-19 pandemic.

The funding will provide grants of between £1,000 and £5,000 to help eligible businesses in England acquire new equipment & technology in addition to professional, legal, financial and any other specialist advice necessary in helping them adapt, recover and rebuild.

Grants can be used for advice in areas such as HR, accountancy and IT.

No financial contribution will be required from businesses claiming under the scheme. The funding will come via Local Enterprise Partnerships (LEPs) of which there are currently 38, with each LEP area being allocated a pot of at least £250,000 to establish a grant programme (so they won’t last).

The funding is being provided to address immediate needs and all grants must be awarded by the 28th February 2021 and all activity fully completed by 31st March 2021.

For Warwickshire; https://www.cwlep.com/

For Northamptonshire; https://www.semlep.com/

More details are expected soon about how the grants will work and when businesses can start claiming under the scheme.

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