Government subsidised advice for sole traders or SMEs looking to grow their business

Government subsidised advice for sole traders or SMEs looking to grow their business

Government subsidised advice for sole traders or SMEs looking to grow their business

Following on from our earlier Grant Funding article, we are aware of an additional two schemes available in the North West and Greater Manchester area.  These schemes provide access to Government subsidised advice for businesses looking to grow.

1.  Growth Vouchers

The Growth Voucher programme is a project run by the Department of Business, Innovation and Skills (BIS).

The scheme is suitable for Sole Traders, Partnerships, LLPs, Charities and Limited Companies and offers match funding vouchers of up to £2,000 to help subsidise the cost of paying for advice on growth and development.

How can this help me?

The programme helps small businesses to get expert advice on:

• Finance and cashflow
• Recruiting and developing staff
• Improving leadership and management skills
• Marketing, attracting and keeping customers
• Making the most of digital technology

What does it cost?

The voucher entitles you to advice up to the value of £4,000 (£2,000 Growth Voucher and £2,000 in match funding).  Some businesses will be randomly chosen to get a voucher.

Is my business eligible?

You are eligible if you:

• Have less than 250 employees
• Have a turnover of no more than £45 million
• Are registered in England
• Are actively selling goods and/or services
• Have not paid for any strategic advice within the last 3 years
• Have not applied for a Growth Voucher before

2.  The Co-Investment Funding Programme

The Business Growth Hub is offering co-investment funding to support eligible SMEs in Greater Manchester who are looking to invest in development activity to grow their business.

The overall aim of the new funding is to stimulate growth, introduce new products and services and create and safeguard jobs.

The maximum level of the financial support available is for 50% of the cost of accessing external specialist services (excluding VAT) or £3,000, whichever is greater.  Eligible projects are to be match funded 50% by the business.

Is my business eligible?

To apply for funding businesses must be a growth business located in Greater Manchester.  Applications will be prioritised to consider innovation and growth measured on the basis that the project will directly:

• Introduce a new product or service
• Create or safeguard jobs
• Increase the client base, therefore having a positive impact on the GVA

Scope of funded projects

Below are some examples of project categories covered by the co-investment funding:

 

Growth Projects  Digital Growth
Business development and strategy    VOIP
Operational plans and development    Video conferencing
Sales and marketing     CRM
HR reviews and change management       Digital project management
ISO consultancy    Training
Innovation    Quality and standards
  Product development
  Product optimisation
  E-commerce

                                             
What are the benefits?

• Help with embracing and implementing business changing digital projects and digital technologies
• Co-investment match funding to ‘scale up’ projects for more impact and faster growth
• Access to a trusted and extensive supplier network of third party companies, to help deliver projects, consultancy and training
 
If you would like more information please don’t hesitate to contact Peter Atkinson on 01942 292503 or email peter.atkinson@jsllp.co.uk and we will arrange for a specialist to meet with you to discuss the funding opportunities and eligibility in more detail. 

 

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