Financial help for businesses to access new technology

Government help has been promised to businesses in England with the announcement of £20 million of new government funding to help them recover from the effects of the coronavirus pandemic through the use of new technology and advice.

Small and medium sized businesses will have access to grants of between £1,000 – £5,000 to help them access new technology and other equipment as well as professional, legal, financial or other advice to help them get back on track.

The latest scheme comes on top of a comprehensive package of government support to help businesses to recover, including the £2 billion Kickstart Scheme which aims to create thousands of new jobs for young people across the country, as well as £1.6 billion invested in scaling up employment support schemes, training and apprenticeships to help people looking for a job.

Ryan Pearcy, Systems Advisory Service (SAS) Director, specialises in advising businesses on financial technology and commented on the latest government funding initiative: “With recent improvements in financial software connectivity and automation, this is an ideal opportunity for businesses to extensively improve their business operation capabilities and streamline their systems.

“The grant can be used to pay for the expertise of a specialist tech team, like the SAS help Scrutton Bland offers, which evaluates a business’s existing software and identifies ways where systems can be improved by introducing the latest digital technology. We have seen clients enjoy significant savings in time and resources, which enables them to contribute to local economies and build their businesses at a time when many are facing huge challenges.”

The grant will be fully funded by the government from the England European Regional Development Fund and distributed through Growth Hubs in local areas across England. More information can be found here.