The Growth Accelerator
We recently wrote about Growth Vouchers, where the Government matches funding of up to £2,000 to help small businesses fund strategic advice from private sector suppliers who can help their business to grow. The vouchers must be applied for by 31 March 2015.
However, if you haven’t received a voucher or didn’t qualify under the scheme rules there are a number of other options.
The Growth Accelerator Programme
This programme is provided through the Governments Business Growth Service, specifically for rapid growth businesses. A one off payment, depending on the size of the business, is required to join the scheme which gives access to help in the following areas:
• Raising finance for growth
• Business development
• Leadership and management
• Growth through innovation
Applicants then have access to leadership and management grants which are match funded by the Government up to £2,000 per eligible senior manager.
Criteria
To be eligible, your business must:
• Be registered in the UK and based in England
• Have fewer than 250 employees
• Have turnover of less than £40m
• Meet the EU definition of an SME (i.e. a turnover below about £36m or a balance sheet value below about £31m)
How we can help
Separately to the Growth Accelerator programme, where a business is planning to expand, we can offer advice in the following areas:
1. Business valuations
2. Forecasts, budgets and accounts
3. Strategy and planning
4. Taxation and business structuring
5. Payroll and VAT
If you are considering applying to the Growth Accelerator programme or if you require assistance applying for funding to expand your business please contact Matt Jevons.
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