Government announces £20 million SME Brexit Support Fund
The £20 million SME Brexit Support Fund will help small businesses with changes to trade rules with the EU.
The Chancellor of the Duchy of Lancaster Michael Gove has announced a £20 million SME Brexit Support Fund to support small and medium sized businesses (SMEs) adjust to new customs, rules of origin, and VAT rules when trading with the EU.
SMEs who trade only with the EU and are therefore new to importing and exporting processes will be encouraged to apply for grants of up to £2,000 for each trader to pay for practical support including training and professional advice to ensure they can continue trading effectively with the EU.
To provide SMEs with additional support, the fund will be administered through the pre-existing Customs Grant Scheme and will open for applications next month.
It has been set up to support businesses prepare for the new import controls coming into force from April and July,
More information about the SME Brexit Support Fund can be found here.