Funds are crucial to any business in order to grow. However, in the current economic climate it may seem more difficult to access funding pots. At Business Support on Demand member it’s our job to find funding streams for you to tap into. This article will concentrate on the GrowthAccellerator.
What is the scheme?
The GrowthAccelerator scheme is a £200m Government backed initiative to help England’s high growth businesses achieve their ambition and potential.
How does it run?
Then GrowthAccelerator initiative is delivered by some of the country’s leading specialists in business growth. Each business is assigned a GrowthAccelerator coach to address your business needs. Business experts will then work with key personnel in the organisation to identify the barriers to growth. An action plan will then be agreed to execute the changes. Issues include:
- Developing and delivering a tailored growth strategy
- Becoming investment ready and securing finance
- Commercialising innovation effectively
- Developing leadership and management capability
How will it help me?
The GrowthAccelerator, provides comprehensive support for businesses up to 250 employees. Once enrolled onto the GrowthAccellerator all businesses could be eligible for match funding. Up to £2,000 per person is available for leadership development training designed to help owners and managers of high growth businesses build personal leadership skills.
The GrowthAcellerator initiative will help you with the following:
- Innovation, creating new, improved products and services
- Business Development, create a high growth strategy for your business
- Access to finance, become more attractive to new sources of finance
- Leadership skills, helping you to develop your teams more effectively
Am I eligible?
The business needs to be registered in England with less than 250 employees. The turnover must be less than £40m. The entry fee is higher depending on the size of the business:
- Micro and start-up businesses (up to 10 employees) – £600
- Small businesses (10 to 49 employees) – £1,500
- Medium-sized companies (50 to 250 employees) – £3,000
How do I get more information?
For more information call Business Support on Demand or visit www.growthaccelerator.com