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One of the problems business owners face at the moment is keeping on top of the sheer volume of news. With the ongoing coronavirus pandemic and the now-official recession dominating the headlines, it’s easy for helpful announcements to slip through the net. Given this context, it would be quite forgivable if you hadn’t spotted that the government announced £20m in SME grant funding at the end of July.

About the SME grant funding

The new SME grant funding is coming from the government, supported by the England European Regional Development Fund, as part of the European Structural and Investment Funds Growth Programme 2014-20. It is being managed by the Ministry of Housing, Communities and Local Government.

If you have a small or medium sized business, you may be able to apply for grants to help you recover from the impact of the coronavirus pandemic. You can apply for money that will help you access new technology or other equipment. Alternatively, you can use your grant to pay for professional advice from accountants, HR, legal, financial, IT or digital specialists.

Where to apply for funding?

The funding has been allocated to local Growth Hubs, public / private sector partnerships that are led by Local Enterprise Partnerships (LEPs). You can find details of your local Growth Hub here.

How much SME grant funding can I apply for?

Typically grants will be up to £3,000, but under some circumstances you could be awarded up to £5,000. Different areas have different amounts of available funding – you can check how much at the foot of this press release (PDF file).

When is the closing date?

If you are thinking of applying, you should do so sooner rather than later. All grants must allocated by 28 February 2021. In addition, all grant-funded activity has to be completed by 31 March 2021.

Where can I find official details about the funding

The official announcement is on the Gov.uk website. Similarly, there’s additional information in the press release we linked to above.

I want a grant for accountancy advice. What should I do?

If you are planning to apply for a grant for help with accountancy, please do speak to us. We’d be very happy to talk through your needs before you make your application.

Avatar for Andy Green
About Andy Green

As Client Director Andy Green works primarily in delivering audit and assurance services, particularly in the Retail and Technology Sectors, as well as being the firm’s Compliance Director. These roles both bring great responsibility in ensuring that the outstanding quality and reputation of the firm is maintained.

After training and qualifying with a mid-tier firm of Chartered Accountants in the City, Andy spent some time in investment banking before joining THP in 2008, a move driven by his desire to get back into the profession. “The beauty of working for an accountancy practice is that every day is different – and you’re constantly achieving successes for your clients.” With Andy’s natural ability in interaction, THP is the ideal place.

With his positive drive and sense of humour Andy works with an array of clients, giving each the ultimate attention no matter what the size of their company.

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