Swindon & Wiltshire Business News

South West small businesses encouraged to apply for Brexit Support Funding before deadline

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Small and medium sized businesses in the South West are being encouraged to apply for funding to help them adapt to new customs and tax rules when trading with the EU.

The £20 million Brexit Support Fund, which closes 30 June, enables businesses who trade with the EU to access up to £2,000 of funding for practical support including training and professional advice on new customs, rules of origin, and VAT processes.

Since launching in March, more than 12,000 businesses across the UK have registered for the fund. In the South West, 298 businesses have submitted applications, with a total of £483,626 in funding applied for so far.

Katherine Green and Sophie Dean, directors general of borders and trade at HM Revenue and Customs said:

“Smaller businesses who trade with the EU have a vital role in our economy and we understand they may have experienced a more challenging time than larger businesses in adapting to changes. We would encourage small and medium businesses impacted by new importing and exporting rules, to apply for funding today.”

To be eligible for the grant, businesses must have no more than 500 employees and turnover no more than £100 million. They must only import or export goods between Great Britain and the EU, or move goods between Great Britain and Northern Ireland. If businesses already import or export goods to and from a non-EU country, they are not eligible.

More information on the fund and how to apply can be found at https://www.gov.uk/guidance/grants-to-help-small-and-medium-sized-businesses-new-to-importing-or-exporting