Growth voucher scheme launched

The government has launched a Growth Vouchers scheme which enables small businesses to access funding for business advice (on a matched basis up to £2,000).  The vouchers can only be used for qualified strategic advice in certain areas and Wilson Partners are pleased to be an accredited firm in the area of finance.  The funding is available on a matched basis up to £2,000 (so £4,000 excl. VAT in total) and the government is hoping that businesses will take advantage of the funding available to accelerate growth and improve profitability.  They are quite clear that small businesses that seek and obtain strategic business advice are more likely to thrive and grow – a view we would obviously share from our experience.

Advice that would qualify under the scheme covers the overall financial health of your business. It may focus on improving cash flow management and forecasting, credit control and late payments, or on how to negotiate with banks and other funding sources. The advice could be used to develop a financial strategy for growth, raise additional finance and/or secure new investors, or to improve your own financial management skills.

The main criteria for a firm to be eligible for a voucher are as follows:

• < 49 FTE employees
• < €10m turnover or balance sheet total
• Must be independent (no more than 25% owned by external organisation/s)
• Trading > 1 year
• Not paid for specific business advice in last 3 years (general advice around accounts etc doesn’t count)
• Can’t be used for an already agreed package of support

More information can be found here: https://www.enterprisenation.com/

If you’d like to discuss the growth vouchers scheme, or any aspect of improving your business please call us on 01628 770770.