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Growth Vouchers – Funding Support for Business

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Are you running a business and feeling that you’re at a crossroads with how to develop it further? Or perhaps it’s simply more the case that you haven’t got access to impartial advice from someone that you can trust? If the answer to either of these questions is a YES then we may just have a solution that can help. But be quick as the first phase of funding ends on March 31st, 2015.

The Government is very aware that the UK economy is extremely reliant on its small and medium sized businesses doing well, both domestically and then abroad. Success amongst companies of this size will underpin a growth in employed labour and significantly contribute towards developing a brighter future for millions of workers and supply businesses. So to help businesses owners do just that, create growth, the Government has developed a program of matched funding through the Growth Vouchers scheme. The scheme has been running since January 2014 and we were appointed as one of the providers that the scheme’s operators (Enterprise Nation https://www.enterprisenation.com/) will allow you to redeem your voucher against.

However, before you start to think about how you’ll redeem it, you need to be able to meet the following eligibility criteria and then apply.

Eligibility

If your business:

  • has less than 249 employees (including any employees of companies that own a stake in your business)
  • is registered in England
  • actively sells goods or services
  • is independent (i.e. no more than 25% can be owned by other businesses)
  • and has a turnover of less than £50 million

Then you’re just the type of business the Government is hoping to help. Here’s how it works. Once you’re satisfied you meet the Eligibility criteria above you’ll need to download an application form https://www.gov.uk/government/publications/growth-vouchers-business-claim-form which also provides details on how to submit it.

Dependent on which region you’re based will depend on who you’ll hear from next, it may be an independent delivery partner or possibly your local Chamber of Commerce. Whoever it is, they’ll either ask you in for a short interview or discuss your needs over the phone; either way you’ll get a quick decision. If you’re selected to receive the vouchers you’ll have a period of 3 months to use them or lose them, it’s rare to be offered an extension!

Once the clock starts ticking you can search for your ideal strategic supplier in five categories: IT / Recruitment / Finance & Cash Flow / Leadership or Marketing. Of course we hope having read this blog you’ll be looking to grow your business through improved marketing planning processes (i.e. specific markets to approach, barriers of entry, suitable pricing, clarity of offer etc.) basically all the things that will help you determine quickly where your organisation needs to be based on sound reasoning.

Just remember the scheme is there to offer strategic advice only, not tactical items such as helping design a new website, the Government knows that’s not going to be the thing that helps you grow!

So, if having read this you’d like to find out more, please read the terms on Enterprise Nation’s website https://marketplace.enterprisenation.com/about#businesses and apply for some funding support…it could be the key to unlock greater potential.

If you want to find out how we can personally help you, then please see our profile pages on Enterprise Nation https://marketplace.enterprisenation.com/marketplaces/businesses/3533 and the Chartered Institute of Marketing http://www.cimmarketingexpert.co.uk/mcd-consultantProfile.aspx?consultantid=130

Good luck!

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