Commenting on the announcement of the fund, Suren Thiru, Head of Economics at the BCC, said:
“This is a welcome first step in dealing with some of the major issues that small businesses trading with the EU are facing. With their finances already under a significant squeeze firms, particularly those which export, are inevitably encountering difficulties in adapting to the complexities of the new arrangements.
“It is now crucial that the grants provide sufficient funds to make a real difference and the government should stand ready to increase their size if needed. We will continue working closely with government to make sure this scheme is delivered as quickly and smoothly as possible for firms still adapting to the new EU trading arrangements and the impact of the pandemic.
“The BCC will also continue to offer as much direct support as we can to SMEs especially through ChamberCustoms – our dedicated customs advisory, training and brokerage service.”