Brexit: Government grants help businesses handle changes to trading with the EU

Grants to help SMEs with new trade rules

The Government has recently announced grants of up to £2,000 to help SME’s trade with the EU following the new Brexit rules. This will help small businesses handle changes to trade rules with the EU that have come into force from 1^st January 2021.

Businesses have struggled to cope with new regulations for customs, rules of origin and VAT.

Trading businesses will be able to use the grant to pay for practical support, including training and professional advice for importing and exporting.

As always there are a number of criteria which businesses will need to meet to be eligible to apply. The main conditions are that businesses must:

• be Uk established and for at least 12 months
• have fewer than 500 employees and a turnover that does not exceed £100m
• import or export goods between Great Britain and the EU, or move goods between Great Britain and Northern Ireland

Applications for the grants will need to be submitted online, but at the time of writing, the application portal had not opened.

We will provide a further update when the online application portal is available.

Further details can be found on the Gov.UK website.

If you have any questions on this matter then please do contact us.

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