Member Article

Government funding to prepare businesses for Brexit

Businesses across the Midlands will be able to ensure their Brexit preparations are up to speed after new Government funding was directed to the region.

The Government has allocated £108 million nationally to ensure that businesses are as well placed as possible to handle the withdrawal from the European Union in whatever form.

Regional clusters of Growth Hubs across the country will receive a share of the funding to help access as many businesses as possible between now and March offering and signposting support to firms of all sectors.

The Coventry and Warwickshire Local Enterprise Partnership’s (CWLEP) Growth Hub has been chosen to lead the Midlands’ cluster, which also consists of the Black Country, Stoke-on-Trent and Staffordshire, Greater Birmingham and Solihull, Worcestershire and The Marches.

CW LEP Growth Hub Managing Director, Craig Humphrey, is calling on businesses across the Midlands to take advantage of the support on offer. Humphrey said: “We understand that uncertainty over Brexit – and the possibility of a no-deal Brexit - is a the most pressing concern to many businesses.

“We are working closely with the Cities and Local Growth Unit at the Department for Business, Energy and Industrial Strategy to ensure that companies are as prepared as possible.”

It is estimated that around one third of the 5.7 million private sector businesses in the UK have carried out some level of preparation for Brexit but that another third are yet to plan for the UK’s departure from EU at the end of October.

“We understand that for many business owners and leaders, Brexit may not be a direct concern, however, we would encourage all business owners and leaders to consider the possible impact on their companies,” said Humphrey.

“We are urging anyone who is unsure about how Brexit will affect their future operations to access their local Midlands LEP Growth Hub website which features resources on Brexit guidance and business support.

“Additionally, we at CWLEP Growth Hub and our partners across the Midlands are available to speak to you and offer support with every aspect of your business.”

Growth Hubs are on offer to provide advice on all aspects of operating a successful business, not just Brexit.

Humphrey added: “With a strong support eco system across the West Midlands, Growth Hubs provide the best route into the support that is available.”

Jonathan Browning, chair of the CWLEP, said: “There are a number of reasons why some businesses are not prepared for Brexit, including capacity and lack of knowledge, but this support package will allow them to bring their organisations up to speed – which is vital if we are to make the withdrawal as smooth as possible.

“Coventry and Warwickshire is delighted to be leading this initiative for the region and I would urge all businesses to evaluate how well or otherwise they have prepared for Brexit and to access the support on offer.”

This was posted in Bdaily's Members' News section by Matt Joyce .