UPDATE: This scheme has now closed
In early 2014 the UK Government announced the Growth Voucher scheme for businesses to subsidise up to 50% of their costs in growing their business.
To make use of the scheme you need to select an accredited Growth Voucher Advisor (they are vetted beforehand and need to pass a strict set of strict criteria).
To be eligible for the voucher your business must be:
- Have 249 employees or less (including any employees of companies that own a stake in your business)
- Be registered in England
- Actively sell goods or services
- Be independent (ie no more than 25% is owned by other businesses or organisations)
- Have a turnover of less than €50 million
Full T&C’s are here but here is how it works in a nutshell:
You apply for the voucher online here, and if approved you will receive your voucher.
You can spend the voucher with any approved Growth Voucher Advisor and have up to £2,000 of the total cost (up to £4,000) refunded within 30 days.
The voucher can be used on any one of these 5 key areas of growth:
- Marketing and gaining new customers
- Developing and recruiting staff
- Improving management and leadership skills
- Cashflow and finance
- Improving digital technology
It’s important to note that the whole emphasis of the scheme is on growth, so this is not about getting a grant to build a website or buy a new computer.
It is a way to hire the best people to help coach and mentor you in areas you need help with – and have the government pay half of it.
Here are two case studies we’ve been involved with:
- Growth Voucher case study for Rentadesk Ltd.
- Growth Voucher case study for Retonomy Ltd.
If you need help with marketing and positioning your business and finding your ideal customers, then please schedule a call and let’s see if we can help.
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