Andrea Leadsom launches Brexit preparedness fund for businesses

Craig Beaumont of the FSB

Business Secretary Andrea Leadsom today unveiled a £10m grant scheme for business organisations and trade associations to support businesses in preparing for Brexit.

The Business Readiness Fund is open to business organisations and trade associations throughout the UK and will support events, training and the production of advice packs to assist businesses in making sure they are fully prepared for a Brexit.

Activities funded by the grants must be open to both members and non-members, and to businesses large and small preparing for Brexit on 31st October. This will ensure all businesses will benefit and can be reassured that they are fully ready, from major British producers to the smallest tech startups and entrepreneurs. There will be no barriers, such as affordability of membership.

Applications for grants will be accepted up to Friday 20th September and administered through a dedicated website available through GOV.UK shortly. Funding will have to be used on activities to be completed ahead of 31st October in order to ensure they are focused on Brexit preparations and that our businesses are fully prepared for Brexit day.

Andrea Leadsom said: “We know that companies often rely on the wider business community for help and advice with planning. Business groups will now be given the necessary tools to engage with this crucial task, communicating with non-members and businesses of all sizes.

“The funding we are announcing today will mean business organisations from all sectors across the country can stand resolutely behind businesses large and small to support them in preparing for, and seizing the opportunities of, leaving the EU.

Craig Beaumont, Director of External Affairs at the Federation of Small Business said: “As an organisation representing 165,000 small firms and the self-employed in every local community across the UK, we welcome these funds that target small businesses. It is mission critical to the economy that they have the information they need, to prepare for Brexit.”