The Government has confirmed that it has approved £10.1 million in grants to go to 124 business representative organisations and trade associations to help them support both members and non-members as the UK leaves the European Union.
Originally, the Government had earmarked £15 million for this purpose and organisations had been invited to bid before 7 October, and although it is still processing some bids, experts predict that not all of the funding will be utilised.
The Federation of Small Business (FSB), the British Chambers of Commerce (BCC) and the Institute of Directors (IOD) are among the organisations to have received grants through the scheme, as well as other business groups from across the UK.
However, the Confederation of British Industry (CBI), which is one of the UK’s most prominent business associations, did not apply for a grant, with a spokesperson saying it has been “helping its members prepare for a potential no-deal exit from the EU for many months”.
The various organisations will use their funding to help businesses in a variety of ways. For example, the FSB is planning interactive webinars, digital engagement and marketing to reach 1 million businesses.
Meanwhile, the BCC will use the funds to produce expert guidance for businesses about the implications of leaving the EU without a deal on 31 October, specifically around customs declarations, rules of origin and tariffs.
Confirming allocation of the bids received so far, Business Secretary, Andrea Leadsom said she was delighted that the fund has been able to support such a large and diverse wide range of business groups.
She added that the funding must be used to support both members and non-members, so all businesses that need support should get in touch with relevant organisations or associations in their area.