How to get up to £10,000 of funding from the Government.
This article is by Neil Canty, a Growth Coach and a member of the BEST Business Group. He explains how the government is providing thousands of pounds for certain training programmes for growing businesses.
‘Circa £10,000 worth of funding for businesses with growth potential’
‘In order to stimulate the economy and reduce unemployment, the Government is currently funding the provision of 1) Business Coaching, 2) Leadership and Management training and 3) Training Workshops for business owners with growth potential. This scheme is called Growth Accelerator (GA) and is available until at least the end of 2014.
What’s in it for the business owner?
- Provides experts to provide high growth potential businesses with the know-how and ability to achieve sustainable growth of around 20% or more p.a.
- Assistance in defining the right Growth Plan.
- Growth Coaches to enable business owners set achievable business development goals and overcome the barriers holding them back, worth £3,500.
- Help in attracting investment.
- Matched funding, of up to £2,000 per person, for Leadership and Management training for senior managers.
- Complimentary Workshops and Masterclasses worth £3,000.
Employ fewer than 250 staff and turnover less than £40m.
Up to 4 employees – £600 + £700 vat
5 to 49 employees – £1,500 + £700 vat
50 to 249 employees – £3,000 + £700 vat
This funding is designed to encourage businesses with high growth potential to actually achieve that in a cost effective and sustainable manner.
How does it work?
The business owner meets with their local Growth Manager who will formally assess their eligibility and help them to complete an application form. The Growth Manager will then work with them to identify the key areas of development required, using the GrowthMapper tool, and then use this to agree a suitable Scope of Support and recommend a local Growth Coach to deliver that in conjunction with the business owner over the ensuing months.
If anyone would like to know a more, as an authorised and approved Growth Coach, I am very happy to provide what help and guidance may be required. If so, just give me (Neil Canty) a call on 01483 332020. Good luck!