GrowthAccelerator – Providing businesses with expert advice and funding

10 Nov, 2014

The GrowthAccelerator scheme was implemented by some of the biggest growth specialists and is backed the UK government.

The main aim is to help put businesses in contact with experts who can provide new ideas and help with strategies. The second way is to find new routes to investment that can be used to help businesses grow.

What is involved within the process?

The first part of the process will involve being assigned a growth expert. The growth expert will use their experience to provide advice to companies so as to help them overcome any hurdles that they may have come across when trying to grow their business.

Once the growth expert reviewed a business, they will then refer them to an expert coach. An expert coach will almost act as a mentor which will help a firm with their growth strategy and meet with them for one-to-one coaching.

How can it benefit my business?

All members of the growth accelerator scheme will have access to up to £2000 of matched funding to spend on the training of managers. By this it is meant that the scheme will pay for half of the training costs up until the £2000 limit.

This training will aid the growth of the business by improving the knowledge and skills of those who are running a business. In addition to this, GrowthAccelerator can help business’ source suitable external sources of finance and attend masterclasses and workshops.

Am I eligible?

As part of the GrowthAccelerator scheme, a business must be determined and committed to grow the business in the long term. After this there are 3 pieces of practical criteria that a business must satisfy, those being;

• To be registered in the UK and based in England
• Have no more than 250 employees
• Have a turnover of less than £40 million

The costs

The cost of taking part in the scheme is dependent on the size of business and is determined by the number of employees. The categories are as follows:

• For 1-4 employee businesses of £600 (+£700 VAT*)
• For 5-49 employee businesses of £1,500 (+£700 VAT*)
• For 50-249 employee businesses of £3,000 (+£700 VAT*)

How can ISO Quality Services Ltd can help?

ISO Quality services are a training provider that supports the GrowthAccelerator scheme. By this it is meant that the £2000 of matched funding can be used for the training that ISO Quality Services Ltd provide. The courses that ISO Quality Services Ltd offer include:

• Quality Manager Training,
• Environmental Manager Training,
• Internal Auditor Training
• Risk Assessment Training and,
• Information Security Training (Coming in January 2015)

As well as the ‘Off the shelf’ courses offered, there is the option for a company to have In House Training. Therefore if your employees require something a little more bespoke and unique to your business or industry then ISO Quality Services Ltd would be delighted to help.

Useful Information

It is important to note that if for example, a business uses less than the £2000 of matched funding available for one section of training, they are still able to apply for further matched funding up to their £2000 limit.

You can find further information regarding the GrowthAccelerator Scheme HERE. Alternatively, you can contact us direct on 01905 670303 or emailing our Training, Facilities and HR Co-coordinator, Debbie Farr at Debbie@isoqsltd.com.

http://isotrainingservicesltd.com