Business Growth Service: GrowthAccelerator
In late 2014 the government announced the launch of its Business Growth Service.
News bulletin: the Business Growth Service was unexpectedly axed as part of the last spending review (November 2015).
The Business Growth Service amalgamates GrowthAccelerator and the Manufacturing Advisory Service (MAS) and includes the Intellectual Property Office, Intellectual Property (IP) Audits and the Design Council Design Mentoring scheme.
Their flagship program is undoubtedly GrowthAccelerator as it sits across the other support strands and is a key plank in helping smaller businesses achieve healthy growth and innovation.
GrowthAccelerator offers a range of support for small businesses that want to grow quickly, including information on and assistance with securing investment and access to experienced growth specialists, able to help them develop and implement strategic growth plans.
The programme’s overall goal is to encourage and support an entrepreneurial spirit.
Is it worth participating?
Figures show that of those 18,000 businesses that have engaged with the GrowthAccelerator, on average four times faster growth has been achieved than for the average SME. Ninety-seven per cent of participants of this programme recommend the service and 94% believe that it will help their businesses to grow.
Who is it for?
Companies that are eligible for GrowthAccelerator are those that are determined to grow, are registered in the UK and based in England, have fewer than 250 employees and generate less than £40M in turnover each year. Businesses that use GrowthAccelerator pay a small fee for the privilege, based on the number of employees.
Are you ready to find out if you qualify or how much your R&D claims could be worth?