The government's new Help to Grow programme will help small and medium sized businesses across the UK learn new skills, reach new customers and boost profits.
The £520 million scheme will offer training on management skills and provide business owners with access to discounted digital software and expert technological advice.
The ‘Help to Grow’ initiative is aimed at the leaders of 130,000 SMEs in the UK as the Government looks to boost economic recovery in the wake of the coronavirus pandemic, and comes at a crucial time when digital transformation will give the economy the best chance at recovering from the Covid-19 restrictions, as well as laying the groundwork for continued future economic growth.
The Treasury has stated that recent studies have indicated that improving the performance of UK SMEs to match competitors in the EU such as Germany could provide a £100 billion boost to the economy.
The initiative contains two schemes:
- Help to Grow: Digital – this scheme will provide SMEs with discounted software and expert advice on how to best utilise it.
- Help to Grow: Management – this scheme will offer MBA-style management training to SMEs with the aim of increasing innovation and boosting growth.
It is expected that thousands of small businesses will take advantage of the scheme to level up their business with top quality management training that might ordinarily only be attainable for larger businesses.
Read on to find out how you can apply on behalf of your business.
Help to Grow: Management
What is it?
This June, small businesses will be able to access a 12 week-programme delivered by leading business schools across the UK. The programme will combine a practical curriculum, with 1:1 support from a business mentor, peer-learning sessions and an alumni network.
Designed to be manageable alongside full-time work, this programme will support small business leaders to develop their strategic skills with key modules covering financial management, innovation and digital adoption. By the end of the programme participants will develop a tailored business growth plan to lead their business to its full potential.
30,000 places will be available over 3 years. The programme is 90% subsidised by government – participants will be charged £750.
Who is it for?
- UK businesses from any sector that have been operating for more than 1 year, with between 5 to 249 employees are eligible.
- The participant should be a decision maker or member of the senior management team within the business e.g. Chief Executive, Finance Director etc.
- Charities are not eligible.
Register your interest in the Help to Grow: Management scheme
Help to Grow: Digital
What is it?
This Autumn, small businesses will be able to get free impartial advice on how technology can boost their performance through a new online platform.
Eligible businesses will also be able to get a discount of up to 50% on the costs of approved software, worth up to £5,000. Vouchers are initially expected to be available for software that helps businesses:
- build customer relationships and increase sales
- make the most of selling online
- manage their accounts and finances digitally
Who is it for?
All businesses will be able to benefit from free online advice on the platform.
The voucher is expected to be available to UK business that:
- employ between 5 and 249 employees and are registered at Companies House
- have been trading for more than 12 months
- are purchasing the discounted software for the first time
Full details on the businesses and software eligible for the voucher will be published this summer.
Register your interest in the Help to Grow: Digital scheme
