Close Menu
  • News
  • Home
  • In Profile
  • Finance
  • Legal
  • Technology
  • Events
  • Features
  • Wellbeing & Mental Health
  • Marketing
  • HR & Recruitment
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
X (Twitter) LinkedIn YouTube
Trending
  • How Generative AI is Giving SMEs a Marketing Edge
  • £20k grant for female-founded SME up for grabs
  • Deploying fintech solutions to boost climate resilience for African farmers
  • An Interview with Alexandra Palt: A sustainability leader and L’Oréal’s CSO
  • How Three Small Businesses Are Winning Big With ERP
  • As Seen on BBC Panorama – Brad Burton to Headline The South West Expo in Swindon
  • New Industrial Strategy must spark growth and opportunity for small businesses
  • Selling a business: The steps too many owners miss
X (Twitter) LinkedIn YouTube
SME Today
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
  • News
  • Home
  • In Profile
  • Finance
  • Legal
  • Technology
  • Events
  • Features
  • Wellbeing
  • Marketing
  • HR & Recruitment
SME Today
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
  • Twitter
  • LinkedIn
  • YouTube
  • RSS
You are at:Home»News»UK regains control of business subsidy regime 

UK regains control of business subsidy regime 

0
Posted By sme-admin on January 9, 2023 Finance, News

A new system to regulate the award of subsidies to business comes into force last week (Wednesday 04 January), providing a boost to businesses across the country and empowering public authorities to deliver support to businesses in a quicker, fairer, and simpler way. 

Subsidies will be tailored to local needs, with public authorities and devolved administrations having added flexibility to ensure they can get support to where it’s most needed as quickly as possible. 

The introduction of these new rules are the most significant changes in subsidy administration in over 40 years and marks a landmark transition away from the restrictive aid scheme the UK was subject to as part of the EU, which regularly would block elected devolved administrations and local authorities from delivering funds to businesses that most needed it in their communities. 

 Business Minister Kevin Hollinrake said: 

 “Our new subsidy control regime is another example of us making the most of our opportunities to be free of Europe’s bureaucracy and forge a future tailor-made for the UK. 

“New rules mean UK authorities will be free to deliver money to businesses in a quicker, fairer, and simpler way, without longwinded and unnecessary approval processes to bog us down.” 

Under the previous EU system, all subsidies except for a select few under a ‘Block Exemption Regulation’ would be required to undergo a time-consuming bureaucratic process, subject to European laws and the European Commission.  

Subsidies would require notification to and approval from the European Commission well in advance, therefore delaying vital funds reaching businesses in good and efficient time. The new regime is tailor-made for businesses and public authorities in the UK, with views gathered from stakeholders across the country in an extensive consultation. 

The new regime will also give public authorities the ability to award subsidies through streamlined routes, schemes that are pre-assessed by the Government and provide public authorities with an even easier and quicker way to award subsidies to businesses. The Government is currently developing three of these schemes, which will cover research, development and innovation, energy usage, and local growth. 

The new regime also contributes to the UK meeting international commitments on subsidy control, including its international commitments at the World Trade Organization (WTO) and in Free Trade Agreements. 

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

£20k grant for female-founded SME up for grabs

Deploying fintech solutions to boost climate resilience for African farmers

How Three Small Businesses Are Winning Big With ERP

Comments are closed.

Follow SME Today on Linkedin and share all the topics you find interesting
Get £100 of free trades - ii trading account

The Newsletter

Join our mailing list for the best SME stories, handpicked and delivered direct to your inbox every two weeks!

Sign Up
Events Calendar
    • Marketing
    July 4, 2025

    How Generative AI is Giving SMEs a Marketing Edge

    June 25, 2025

    From PLT to Twitter X: Business Branding Decisions That Backfired

    • Finance
    July 4, 2025

    £20k grant for female-founded SME up for grabs

    July 4, 2025

    Deploying fintech solutions to boost climate resilience for African farmers

    • Health & Safety
    July 1, 2025

    Temperatures Soaring: Is Your Workplace Becoming Unsafe?

    January 29, 2025

    UK takeaways guilty of shocking hygiene failures:

    • Events
    July 4, 2025

    £20k grant for female-founded SME up for grabs

    July 2, 2025

    As Seen on BBC Panorama – Brad Burton to Headline The South West Expo in Swindon

    • Community
    June 23, 2025

    Celebrating One Year In Fairford Supporting The Community

    June 2, 2025

    National Charity Accelerates Children’s Reading Through New Corporate Partnership

    • Food & Drink
    June 23, 2025

    England Cricket Captain, Ben Stokes OBE, takes a stake in Spencer Matthews’ alcohol-free spirits brand, CleanCo

    June 16, 2025

    Hospitality industry risks collapse

    • Books
    April 24, 2025

    Values-Driven Professionalism: A Path to Client Loyalty

    December 2, 2024

    Banish the banshee boss: how to lead without fear – addressing the issue of fear-based management and how NOT to be this manager

    About

    SME Today is published by the same team who deliver The Great British Expos’. We have been organising various corporate events for the last 10 years, with a strong track record of producing well managed and attended business events across the UK.

    Join Our Mailing List

    Receive the latest news and updates from SMEToday.
    Read our Latest Newsletter:


    Sign Up
    X (Twitter) YouTube LinkedIn
    Most Recent Posts
    July 4, 2025

    How Generative AI is Giving SMEs a Marketing Edge

    July 4, 2025

    £20k grant for female-founded SME up for grabs

    July 4, 2025

    Deploying fintech solutions to boost climate resilience for African farmers

    July 3, 2025

    An Interview with Alexandra Palt: A sustainability leader and L’Oréal’s CSO

    July 3, 2025

    How Three Small Businesses Are Winning Big With ERP

    Categories
    • Books
    • Community & Charity
    • Education and Training
    • Environment
    • Events
    • Features
    • Finance
    • Food and Drink
    • Health & Safety
    • HR & Recruitment
    • In Profile
    • Legal
    • Marketing
    • News
    • Property & Development
    • Sponsored Content
    • Technology
    • Transport & Tourism
    • Wellbeing & Mental Health

    Copyright © 2020 SME Today.

    • ABOUT SME TODAY: THE GO TO RESOURCE FOR UK BUSINESSES
    • Privacy
    • Contact
    Copyright © 2025 SME Today.
    • ABOUT SME TODAY: THE GO TO RESOURCE FOR UK BUSINESSES
    • Privacy
    • Contact

    Type above and press Enter to search. Press Esc to cancel.