The new grant will give small businesses immediate cash grants of between £1,000 and £5,000 to cover the cost of essential services during the post-lockdown recovery.
You could use the grant to hire advisors to provide specialist advice to support your business’s recovery following the impact of the pandemic such as assistance with cash-flow forecasting or business plans for finance applications. The grants cannot, however, be used to fund normal business activities such as the preparation of the statutory year-end accounts and company tax returns.
Simon Clarke MP, Minister for Regional Growth and Local Government, said: “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.”
All grants must be awarded by 28th February 2021 and all relevant activity must be completed by 31st March 2021.
As these grants will be distributed by LEPs, please click here to identify your LEP Contact them directly to find out more about when they will become available and whether you are eligible for a grant.
If you’ve received a grant and you need professional guidance and support with a range of accounting, cashflow and budgeting issues facing your business, please do get in touch.