It’s no secret that it’s been a tough time for businesses recently. The Government is attempting to help businesses, especially smaller ones, with a series of new measures.

Amongst these is a new £20 million fund that small businesses can use to access grants towards new equipment and specialist advice.

What are the COVID advice grants for?

The funding comes from the England European Regional Development Fund (ERDF). It aims to help businesses by providing grants of between £1,000 and £5,000, funding adaptations and professional advice.

COVID funding to adapt or adopt new technology

Some businesses need to make changes to the way they operate in order to survive the pandemic and its recovery. To aid this, grants are available to help with the cost of new equipment or software which allows businesses to adapt to the changes.

Access specialist professional advice

The coronavirus support grants also help businesses access support from professional services. This allows business owners to get advice and guidance on making the changes they need to survice.

The funding enables businesses to get help from the following sectors:

• Accounting
• Legal
• Financial services
• IT/digital services
• Human resources

Getting help with finances

It’s always advisable to get help with your finances, but especially so during the COVID-19 crisis. A professional accountant or financial advisor will help you manage your cash flow, finances, and tax more efficiently.

They’re also a good source of information on available funding, and how to apply.

How do I access the coronavirus business support grant?

Funding applications are made to your nearest Growth Hub, which can be found on the Local Enterprise Partnerships Network website. This will direct you to the relevant website and application form for you to fill in.

When will the coronavirus support grant be paid?

The grants will be available by 28th February 2021 at the latest.

If you have been affected by COVID-19 and want some advice, visit our COVID-19 Business Support Centre. This is our information hub full of FAQs and tips for getting support through the pandemic.

Talk to one of the team about our online accountancy services by calling 020 3355 4047, using the live chat button on screen, or requesting a call back.