The SME Brexit Support Fund has been established to help small and medium businesses with changes to trading regulations with the EU, including new customs, rules of origin, and VAT arrangements.
The Fund will help businesses prepare for the implementation of import controls which come into force from April and July 2021. The Government is introducing these new controls in stages, allowing traders and hauliers time to adjust to new processes. This means businesses do not have to complete new import declarations for up to six months, unless they are moving controlled goods.
This is a £20 million programme. SMEs that 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. The grants will pay for practical support for importing and exporting, including training and professional advice to ensure businesses can continue trading effectively with the EU.
To be eligible, businesses must import or export goods between Great Britain and the EU, or move goods between Great Britain and Northern Ireland.
Applications will close on 30 June 2021 or earlier if all funding is allocated prior to this date.