In Rishi Sunak's recent Budget announcement, the Government pledged a series of grants, loans and schemes to help businesses recover from the pandemic. Perhaps the most forward-thinking of these is the Help to Grow scheme.
What is the Help to Grow scheme?
The Help to Grow scheme has been designed to help small businesses improve their management skills and productivity. There are two prongs to the scheme, Help to Grow Digital and Help to Grow Management.
Help to Grow Digital
Help to Grow Digital opens in the autumn and will offer small business owners impartial advice on digital technology that can boost their company’s performance, as well as a 50% discount on software, up to the value of £5,000.
The discount will only be available for first-time purchases of approved software that helps businesses:
Make the most of selling online.
Manage their accounts and finances digitally.
Build customer relationships and increase sales.
You can register your interest in the scheme here.
Help to Grow Management
Launching in June, Help to Grow Management will give 30,000 small businesses access to training from leading business schools. The 12-week course can be completed alongside full-time work and will include financial management, innovation, leadership, digital adoption and marketing training.
Participants, who must be within the senior management team of a business, will benefit from both face-to-face and online learning and will gain access to a business mentor, peer-learning sessions and an alumni programme.
By the end of the course, the Government promises that participants will have developed a "tailored business growth plan to lead their business to its full potential.”
The course is 90% subsidised and will cost £750 for each participant. You can register your interest here.
Is my business eligible for Help to Grow?
To be eligible for these schemes your business must:
Be based in the UK.
Have been operating for at least one year.
Employ between 5 and 249 people.
Be registered on Companies House (digital scheme only).