The government has announced a £20m package of funding to help smaller businesses recover from the effects of the Covid-19 pandemic.

Small and medium-sized businesses can access a small business grant of between £1,000 and £5,000 to pay for the expertise, equipment and technology they need to recover and rebuild following the coronavirus pandemic.

The grant can be spent on specialist professional advice such as accountancy, legal, HR or IT and digital.

It can also be used to buy minor equipment needed to adapt or adopt new technology in order to continue in business or diversify following the pandemic.

The money is available through the European Regional Development Fund and is being administered through the government’s 38 local Growth Hubs.

To apply for a grant, you will need to contact your local Growth Hub, and you can find a list of these hubs here.

The fund is being launched in September, but businesses interested in applying should register their interest now.

If you would like to discuss applying for a grant, please call us on 020 7625 4545 or email us at info@mgr.co.uk

Warning: The above is merely general guidance and should not be relied upon as formal advice. The advice we give to each client will depend on their specific circumstances. We suggest you take professional advice before taking any action in relation to the issues discussed above.