New £20m government grant covers accountancy fees

In an effort to help businesses in England recover from the effects of the pandemic, new grants have been announced for small and medium-sized businesses to access specialist professional advice such as accountancy services.

Announced at the end of July, the grants range from £1,000 to £5,000 from a government pot of £20m. They will be available to business seeking professional advice from accountants along with HR, legal, financial, IT and digital specialists.

The grant is supported by the England European Regional Development Fund and can also be used by small businesses to adopt new technology or to purchase minor equipment in order to continue business activity or needs be, to diversify.

Businesses can apply for the funds through the local growth hub in their Local Enterprise Partnership (LEP) area. Although the funds are limited, each LEP has been allocated a minimum of £250,000 to establish the grant programme. A network of 38 growth hubs are dotted across the country and partnered with the likes of the Chambers of Commerce, FSB, universities, enterprise zones and banks.