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November 8, 2023
There is less than one month remaining to claim grant funding through the SME Brexit Support Fund, businesses have been reminded.
The initiative – which helps new and established businesses adapt to post-Brexit importing and exporting processes – will close to new applications on 30 June 2021.
If you need help trading overseas, here’s what you need to know.
What is the SME Brexit Support Fund?
Launched in response to Brexit, the grant funding scheme enables traders to access specialist training to help them adapt to new customs and tax processes, such as the rules of origin and VAT.
According to recent research, the vast majority of small businesses who trade overseas only do so with the EU, meaning many are unfamiliar with the complex international trading rules introduced at the end of the transition period.
How much can I get?
Traders who currently trade with the EU, or plan to do so in the future, can access up to £2,000 in grant funding. The cash can be used to pay for specialist training and professional advice – including accountant’s fees.
Who is eligible for support?
Eligible businesses will have been established in the UK for at least 12 months before applying, or currently hold Authorised Economic Operator status, and:
The business should also:
When is the deadline?
The final deadline for applications is 30 June 2021, but the Institute of Chartered Accountants in England and Wales (ICAEW) has urged businesses to apply as soon as possible. This is because there is a limited amount of grant funding available.
How do I apply?
For more information about the application process, please click here.
Get expert advice today
For help and advice with related matters, please get in touch with our expert business advisory team today.