The Institute of Chartered Accountants in England and Wales (ICAEW) has warned eligible small and medium-sized enterprises (SMEs) that they have a limited window to apply for a grant under the Brexit Support Fund.
SMEs seeking to make use of the Fund only have until 30 June 2021 to apply, the ICAEW stated. It also said that they may not be successful if the £20 million fund runs out before the deadline. Businesses can make a claim for a training grant, a professional advice grant or both. However, the amount of the grant cannot exceed £2,000.
The Brexit Support Fund aims to help businesses prepare for the implementation of import controls which come into force from April and July 2021.
Businesses 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 to ensure they can continue to trade effectively.
The Brexit Support Fund application portal can be accessed here.