In the 2013 Budget, the Government announced its intention to run a £30 million programme in England

Businesses will receive a subsidy for 50% of consultancy costs in one of 5 key areas up to a value of £2000. 25% of businesses who undergo a diagnostic will not receive a subsidy.

Who is being targeted

• Micro and small businesses with up to 49 employees.
• Must be established for 12 months plus
• Must not have paid for external business advice in the past 3 years
• They must have the desire to expand and grow their business over the next two to three years
• 90% of businesses must be registered at Companies House or with HMRC for VAT or PAYE (not just as self-employed)

Diagnostic

Delivery partners will carry out an in-depth analysis of the business to determine which of the five themes will help the business to achieve their growth ambitions. This will be captured in a simple action plan recorded directly on the Growth vouchers database. This identifies what the business needs to focus on as a priority and what external advice they should be seeking from suppliers in the private sector. The diagnostic in itself must provide value to the business.

Of the businesses identified as needing support 75% will be successful in their application.

Support

The Growth Vouchers programme will identify out of 5 key areas what has the greatest impact in terms of business growth. The support will be provided solely by members of professional bodies with appropriate insurance in place. The areas and approved qualification requirements are as follows:

• Financial Management
• ACCA - Professional ACCA qualification or
• ICAEW – ACA or
• CIMA - CIMA member in practice
• Recruitment and Development of Employees
• CIPD (Chartered Institute of Personnel and Development) - Chartered member
• Building Leadership and Management Capability
• Institute of Consulting – Member
• Sales and Marketing
• Chartered Institute of Marketing- MCIM
• Exploiting Digital technology
• BCS The Chartered Institute for IT - Chartered IT Professional (CITP)

The subsidies cover up to 50% of the cost and the maximum value of these subsidies will be £2000 (i.e. cost £4000) and are paid on a reimbursement basis.

Growth Vouchers (GV) http://gov.uk/apply-growth-vouchers

To be referred, please contact This email address is being protected from spambots. You need JavaScript enabled to view it., Essex Innovation Programme