Industry News

Government Announces New £20 Million SME Brexit Support Fund

By Jess Browne-Swinburne

16 Feb 2021

Last week, the Chancellor of the Duchy of Lancaster Michael Gove announced a £20 million SME Brexit Support Fund to help small and medium sized businesses (SMEs) with changes to trading rules with the EU.

Businesses with up to 500 employees and no more than £100 million annual turnover will be able to apply for a grant of up to £2,000 to pay for practical support for importing and exporting, in preparation for the implementation of import controls which come into force from April and July, as set out in the Border Operating Model.

The fund is designed to help businesses who trade with the EU to adjust to new customs, rules of origin, and VAT rules and assist with trade continuity.

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.

For more information on how you can use the grant, who can apply and how to apply, click here.

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