A Brexit Support Fund has been launched by the UK government to help small and medium-sized businesses, including retailers, adjust to the changes in trade rules with the EU.
The new £20 million fund is aimed at helping businesses that are new to importing and exporting processes and require assistance in adjusting to the rules of origin, customs, and VAT with the EU following Brexit.
Through the scheme, grants of up to £2,000 are available which can be used to pay for support on the new trading processes, including training and advice, reports the Retail Gazette.
“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,” said Chancellor of the Duchy, Michael Gove.
“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.”
Applications to the fund will open next month.