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Government announces EU exit support fund for SMEs

Published on: 11/02/2021

Today (11th February), the Chancellor of the Duchy of Lancaster, Rt Hon Michael Gove MP, announced a £20 million Support Fund to support small-and-medium-sized businesses (SMEs) to 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 help businesses to prepare for the implementation of import controls which come into force from April and July 2021.

For more information, please read the full announcement on the website.

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