Further, the funding will allow businesses to access new technology. They will also be able to get professional, financial and legal advice to help them get back on track.
The government will fully fund the grants and there will be no obligation for Small Businesses of UK to contribute financially.
Commenting on the funding, Simon Clarke, Minister for Regional Growth and Local Government, said:
‘We have always said that we would stand behind our businesses and communities as we rebuild following the COVID-19 pandemic. This new funding does exactly that.
‘Businesses will be able to use these new grants to pay for the expertise, equipment and technology they need to adapt, recover and build.’