Changes to ‘undertaking in difficulty’ definition proving a funding hurdle for some businesses
13 Sep 2020
Some grant and funding providers have made changes to their ability to support a company considered to be an ‘undertaking in difficulty’. If your company made its first commercial sale more than seven years ago, it is vital that you are aware of the implications of these changes.
The Government announced a range of funding measures to help businesses during the pandemic but only businesses that were deemed not to be an ‘undertaking in difficulty’, could apply. In this blog, I’ve set out our understanding of the situation to date, the difficulty some companies are facing and our potential solutions.