The government has stated that any small businesses in the UK that are being adversely affected by the departure from the European Union will be given grants to help see them through.
Business organisations have been urging the government since last year to step in and provide financial support for firms that are struggling to cope with the new regulations and costs that Brexit has created. Small businesses are among the most vulnerable, as they have already been hit heavily by the COVID-19 pandemic, with many having cash flow difficulties as a result.
While some of these firms have been able to get help in dealing with this and other issues from an accountant for small business in Goole or other parts of the country, the government has now confirmed that assistance will be available for all. It is set to provide a support fund worth £20 million, and this cash will be distributed to help smaller firms deal with trade regulation changes post-Brexit.
Those firms that trade solely with businesses based in EU countries are to be given grants of £2,000 maximum to cover the costs of exporting, along with importing advice and support. Michael Gove said the fund would also help them prepare for additional import control changes to come.
Mike Cherry from the Federation of Small Businesses welcomed the news, stating that it represented crucial help for companies that are already low on cash and which now face major new regulatory barriers to the operation of their businesses.