Last week the government launched its latest initiative aimed at supporting growth amongst small businesses. David Cameron has promised a 50% subsidy for up to £2,000 worth of expertise and advice to 20,000 small businesses, as part of a new Growth Voucher pilot scheme championed by Lord Young. The scheme will offer vouchers to randomly selected qualifying businesses.
Businesses involved in the scheme will be granted access to a central marketplace-style website, powered by the small business network Enterprise Nation. In addition, participating businesses will be matched with a mentor who will help them navigate the website and provide intelligence on finance, recruitment, management skills, marketing and how to effectively use technology.
Those running the scheme have invited members from professional bodies, such as the ACCA, BIMA and Chartered Management Institute, to offer their expertise. In return, service providers are granted the opportunity to establish professional working relationships with the small business owners. This presents small businesses with a brilliant opportunity to expand their client base and benefit from long-term financial assistance, as businesses involved in the scheme benefit from growth and future development.
Historically small businesses have managed their own office functions, but these vouchers will help give them access to strategic advice from suppliers in the private sector which would have previously been unaffordable. The scheme will also help larger businesses understand the needs of their smaller counterparts.
Ultimately, the Growth Vouchers programme hopes to close the gap between small businesses and large corporations in the interest of each, helping smaller businesses to thrive and grow.
For more information on the scheme visit: www.growthvouchers.co.uk
