The Business Growth Service (now incorporating GrowthAccelerator) is a service available to businesses that are looking to improve and grow. To be eligible for support, businesses must be based in England, have fewer than 250 employees, have a turnover of less than £40 million and must not be part of a larger group.
The Business Growth Service helps those businesses who have the right level of ambition, capability and capacity to improve and grow through a co-investment model. It brings together a broad range of expertise, so that you can get the right advice and support to fulfil your growth potential. As a Business Growth Manager for the service I sit down with each client and agree a package of support tailored to your needs, these range from business to business but some of the different types of support on offer are outlined below.
- Business Development Coaching (BDC): an approved coach is appointed to work with the management team in planning for growth, the typical themes of which include strategy planning, increasing sales performance, marketing / branding initiatives, new business development.
- Leadership & Management development through matched funding of £2,000 per eligible senior manager – capped at 5 individuals
- Access to Finance (A2’F): separate work stream to BDC, the coach is focused on helping the business to become finance ready whether that be debt, equity or forms of crowd funding or mix.
Recruitment Performance Summary
Many recruiters that I work with utilise the match-funded leadership & management training grants that are available in addition to the business development coaching to help growth their business. Last year the average recruitment consultancy spent £12,741 on training their senior managers which they were able to recoup 50% via our service, thereby maximising budgets and up-skilling their senior management.
What investment is required?
As a business you will pay a contribution to access the service based on the size of your business.
1 to 4 employees………………………………… £600 + £700 VAT* = £1,300
5 to 49 employees………………………………. £1,500 + £700 VAT* = £2,200
50 to 249 employees…………………………… £3,000 + £700 VAT* = £3,700
* VAT is based on 20% of the nominal value of the service – £3,500
If you feel that you are a suitable business candidate and would like to discuss this further and access the same level of support, please email me direct [email protected] or telephone 020 7728 2417. Alternatively my colleague Daniel Johnson on 020 7728 3369. Further information is available at http://www.greatbusiness.gov.uk/businessgrowthservice