Your local Growth Hub will shortly be opening applications for a share of a new development grant targeted at SMEs (only applies to businesses based in England).

The national budget is £20m and each Growth Hub will have its share to offer to businesses in their catchment area.

Each business accepted will have access to up to £3,000 to cover small items of equipment and business support consultancy. In exceptional circumstances this can be increased to £5,000.

Interestingly, this includes accountancy fees…

The support will be fully funded by the Government with no obligation for businesses to contribute financially.

The funding being provided to businesses is supported by the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Ministry of Housing, Communities and Local Government is the Managing Authority for the European Regional Development Fund in England. For more information click here.

This does seem like a win-win outcome for advisers and their clients. No doubt the individual Growth Hubs will be inundated with application in which case encouraging clients to get their foot in the door seems like a sensible course of action. Every little helps…

Source: New feed