Cabinet Minister Michael Gove has announced a £20 million SME Brexit Support Fund to support small and medium sized businesses (SMEs)
adjust to new customs, rules of origin, and VAT rules when trading with the EU.
SMEs who trade only with the EU and are therefore new to importing and exporting processes will be encouraged to apply for grants of up
to £2,000 for each trader to pay for practical support including training and professional advice to ensure they can continue trading
effectively with the EU. The fund will be administered through the pre-existing Customs Grant Scheme and will open for applications next
Michael Gove said: “The Government has listened carefully to the issues raised by the business community through the Brexit Business
Taskforce and that’s why we are bringing forward this financial support to help small businesses adapt to the changes to our trading
relationship with the EU.
“This new targeted funding will see small businesses get more of the practical support they need to adjust to the new processes and
prepare for further changes as we implement our own import controls in April and July. Together we will seize new opportunities available
to a fully independent global trading United Kingdom.”
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