Small businesses in the UK have just over a month left to apply for the government’s Help to Grow: Digital Scheme.
The programme will now close to new business applicants on February 2nd 2023, following low uptake.
Designed to give up to 100,000 UK SMEs “free and impartial advice on how technology can help their business and vouchers worth up to £5,000 to cover up to 50% of the costs of buying pre-approved software”, the scheme aims to help businesses develop their digital footprint.
However, it is reported that less than 1,000 vouchers have been redeemed by British SMEs.
Decisions have been taken to shelve the programme and redirect attention to other avenues of support for small businesses.
In addition to the government’s Help to Grow Digital Scheme, small businesses are able to tap into the Energy Bill Relief Scheme, offering discounts on gas and electricity following the hike of global energy prices.
The Chancellor of the Exchequer announced additional measures to come into play over the next five years, as part of the 2022 Autumn Statement.
Included within this were “new measures to reduce the burden of business rates on firms, including a freeze in the multiplier, extended and increased relief for high street businesses, an exchequer funded transitional relief scheme, and targeted support for small businesses.”
Small businesses access unsecured, fast funding from Got Capital. As an alternative lender, Got Capital offers financing solutions specifically designed for and catered to the needs of SMEs.
