Government announcement on £10m assistance to SMEs

Earlier this month the Prime Minister announced a £10 million support package for SMEs (Small and medium enterprises) that have been flooded – or are in flood affected areas that have suffered 'significant loss of trade' since December 2013.

Eligible businesses will be able to claim:

  • Funding for clean-up costs, materials and costs to help them keep trading.
  • Extra time to file accounts with no penalties for late filing.

The funding is being made available via local authorities who will be administering and delivering the support. The allocations to each individual local authority was announced on Thursday 20 Feb and will be based on the number of businesses affected in the area. Local authorities will then decide how much funding should be given to an individual business but Government guidance highlights equivalent schemes where the average claim was £2,500 per business.

The Government has also set-up a dedicated Business Support Helpline which offers businesses a free 1 hour call with an adviser. The number is 0300 456 3565.

Click here for futher details on the gov.uk website.

 

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