The Help to Grow Scheme
In this post we cover some of the new support available to businesses announced in Budget 2021. Specifically the government's Help to Grow Scheme
The 'Help to Grow' scheme is an initiative designed to assist small and medium-sized businesses with digital and management training. There are two components to the scheme:
Help to Grow - Management
Starting from June, small businesses will be able to enrol on a 12 week training programme. This programme will be delivered by business schools across the UK.
It will consist of a practical curriculum with one to one support from a business mentor, peer learning sessions plus an alumni network.
The programme is intended to support small business owners develop their skills in areas such as financial management, innovation and digital adoption.
It should be possible for a business owner to accommodate the programme alongside the day to day activities of running their business. There are 30,000 places available over the next 3 years which will be 90% subsidised by the government. Those owners intending to participate can enrol here though there is a charge of £750 to join the course.
Which companies qualify?
Any company from any sector (except Charities) potentially qualifies. However they must have been operating for at least a year and have between 5 and 249 employees.
The participant in the scheme needs to be a decision maker, or belong to the senior management team within the business. For example a Finance Director, Chief Technical Officer.
Help to Grow - Digital
In the Autumn, small businesses will be able to obtain free impartial advice on using technology to improve their performance via a new online platform.
Those businesses that qualify will be able to secure a discount of up to 50% on their costs of approved software up to a value of £5,000.
It is anticipated that vouchers will be available for software that assists businesses in building customer relationships, increases their sales, make the most of selling online plus managing their accounts and finances digitally. So if your company's finances are currently being managed offline, perhaps now is the time to start considering an online solution?!
All businesses should be able to benefit from free online advice via the platform. However the voucher is expected to be available to a UK business that employs between 5 and 249 employees and is registered at Companies House. Additionally the company must have been trading for more than 12 months and be purchasing the discounted software for the first time.
Full details on the businesses and software eligible for the voucher will be published this summer. However in the meantime you can register your interest here.
For more useful information, check out our Ebooks here.
And if you'd like to know how we can help you with all of this, or with anything else, feel free to give us a call on 01202 048696 or email us at [email protected].
Alternatively, please feel free to complete our Business Questionnaire here.