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UK Business Readiness Fund approves £10.1 mn for 124 firms

Oct '19
Pic: Shutterstock
Pic: Shutterstock
The UK government’s Business Readiness Fund recently approved 124 business organisations of a variety of sizes across the UK have now had grants approved to help get companies ready for Brexit on 31 October. The fund was launched to help business representative organisations and trade associations to support members and non-members alike to get ready for Brexit.

The fund closed for applications on 7 October.

Business secretary Andrea Leadsom confirmed that 69 grants have already been awarded to a range of groups, making up £6.3 million of the fund so far.

One of the beneficiaries is the UK Fashion & Textile Association (UKFT), which is holding a series of free events across England, Wales, Scotland and Northern Ireland over the coming weeks to provide practical advice and support for UK fashion and textile businesses in the lead up to the UK’s exit from the European Union.

The association has prepared a free Brexit Checklist, a comprehensive guide to Brexit readiness for the UK fashion and textile industry and will be operating a dedicated Brexit helpline to help minimise disruption to trade.

Other beneficiary organisations include the Federation of Small Businesses, which is planning interactive webinars, digital engagement and marketing to reach a million businesses; the British Chambers of Commerce, which will use funds to produce expert guidance for businesses about the implications of leaving the European Union (EU) without a deal on October 31, specifically around customs declarations, rules of origin and tariffs; the Institute of Directors, which will be disseminating accessible guidance, providing a range of workshops and information sessions, and facilitating one-to-one advice for business leaders; and the Institute of Chartered Accountants in England and Wales, which will undertake targeted communications to members, the businesses they advise and firms in general.

Fibre2Fashion News Desk (DS)

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