If you run an SME (Small & Medium-sized enterprise, typically with less than 250 employees) looking to kick start your business growth in 2013, then you’ll be glad to know there is money available to help you do this!
If you’re based in the south west and south of England and meet a set of initial criteria, you can access a grant to help with utilising a Business Coach and accessing training. The organisation Oxford Innovation has developed a programme called the Growth Accelerator to enable high-growth businesses and start ups to access the key knowledge and advice they need to grow by at least 20% year on year.
The programme is split into 2 parts (and you need to be accepted onto part 1 to be eligible for the funding available in part 2!):
- Coaching for Growth that focuses on either business development, commercialising innovation or accessing finance, and
- Leadership & Management Training.
The Part 1 Coaching for Growth gives your business access to an experienced business coach for 7 days of coaching time. The topics you cover and the approach to be used will be up to you as you identify at the start of the programme what are the key barriers that need to be overcome.
The full cost of this coaching programme is £3,500 + VAT (£700) – a total of £4,200. Depending on the size of your business, you only have to pay a contribution to the overall cost, ie:
- between 1 and 4 employees, you pay £600 plus the full VAT (total of £1,300)
- with 5 – 49 employees, your contribution is £1,500 plus the full VAT (£2,200)
- with 50 – 249 employees, you pay £3,000 plus the full VAT (£3,700).
This amount is payable up front but once you have paid it, there is no further requirement as the coach is paid directly by Oxford Innovation.
Part 2 is a funding programme for Leadership and Management Training, which provides 50% matched funds up to £2000 (ie you get back 50% of any training costs up to £4,000). Unlike previous funding programmes, this one is applicable for each senior manager (owner/director) within your business. There are limitations on the type of training topic you can do (ie cannot put it towards technical training to help you do your job!). Again, you need to pay up front in order to get the funding but if you have a number of managers who require training, the payments can be spread across a number of months and you will be able to claim back against anything you have paid already.
This is certainly the most generous funding programme to date so use it to kick start your business growth today! Use the form below to contact us for more details and we will connect you with the right people to get your application started.