Small and medium sized businesses are now able to register their interest in joining ‘Help to Grow’, the Government’s £520 million scheme to help SMEs recover and prosper post-pandemic.
Following the Chancellor’s announcement of the scheme in the recent Budget, managers of small and medium-sized businesses are able to register their interest in two new programmes: ‘Help to Grow: Management’ and ‘Help to Grow: Digital’.
What is ‘Help to Grow’ management?
As part of the ‘Plan for Jobs’ campaign announced in July 2020, the ‘Help to Grow: Management’ initiative will launch in June and support small businesses to achieve their growth goals and boost productivity.
The new scheme involves a 12-week-programme delivered by business schools across the UK and is aimed at leaders who want to improve their management and strategic skills to drive their business forward.
The programme, which is 90% subsidised by the Government, aims to help 30,000 businesses over the next three years to:
– develop a growth plan
– improve resilience
– learn how to innovate
– inspire employee engagement
– build marketing and financial strategies
– adopt digital technologies
Business leaders will be able to access the training from leading business schools across the country, through a mix of online and face-to-face tuition, as well as support from a mentor.
The scheme comes at a cost of £750 to participants, with the remaining 90% funded by the government.
How do I apply?
Although the programme isn’t yet open for applications, you are able to register your interest online now.
In order to join the programme, you must be a senior manager or key decision maker in your business.
Additionally, your business must:
– have been operating for more than one year
– be based in the UK
– have between five and 249 employees
– not be a charity
What is ‘Help to Grow: Digital’?
‘Help to Grow: Digital’ is expected to help 100,000 SMEs and is due to launch in the Autumn. It is expected to include an online platform on which businesses can gain advice on how technology can improve their performance.
Additionally, some businesses will be eligible for a discount of up to 50% on the costs of approved software, worth up to £5,000. The Government has confirmed that the discounts will be available on packages which will help businesses:
– build customer relationships and increase sales;
– make the most of selling online; and
– manage their accounts and finances digitally
The ‘Help to Grow: Digital’ scheme, in particular the approved software discount, may be useful to businesses preparing for Making Tax Digital (MTD) for income tax and MTD for corporation tax.
Full details of eligibility have yet to be announced, but in order to register interest, you must be a limited company. Businesses can register their interest for the ‘Help to Grow: Digital’ scheme by following this link.
The Government expects the voucher will be open to businesses who:
– have between five and 249 employees;
– have been operating for more than one year; and
– are registered at Companies House
For more information on the ‘Help to Grow’ schemes, click here.
Get in touch
For advice on accessing the ‘Help to Grow’ schemes, any other business support or funding, please contact your usual PM+M representative or get in touch at email@example.com.