The Help To Grow Scheme: Everything you need to know
On the 3rd of March 2021, the UK Government announced The Help To Grow Scheme, a new £520 million scheme for small and medium businesses to help boost economic recovery from the Covid pandemic. Here's everything you need to know about the scheme to help your business grow!
What is the scheme?
It's a new programme that aims to help small and medium businesses in the UK "learn new skills, reach new customers and boost profits".
There are two 'arms' of the programme, Help To Grow: Management and Help To Grow: Digital which offer a wide range of advice and support.
We think that both parts of the scheme will have big benefits for the businesses we know. Not only will you learn new skills that'll help your business grow but you'll also be investing in your professional development — something that often gets left behind when you become an SME business owner.
Help to Grow: Management
Start date: June 2021
Availability: 30,000 places over three years
Cost: £750 (the remaining 90% subsidised by the government)
Format: A 12-week programme delivered by leading business schools that's a combination of 1:1 support, a practical curriculum so that you're implementing in your business as you go, support from a business mentor, peer-learning sessions and an alumni network.
It's been specifically designed for you to complete alongside working full-time so don't be put off by the time frame!
What you'll get at the end: You'll develop new strategic thinking skills as well as new skills in innovation and digital adoption which in turn will help you develop a tailored business growth plan so that your business reach its full potential. 🚀
Who is eligible: UK businesses from any sector that have been operating for more than 1 year, with between 5 to 249 employees are eligible. You'll need to be a decision-maker or member of the senior management team.
Help to Grow: Digital
Start date: Autumn 2021
Cost: Free 🎉
Format: A new online platform will give small businesses free impartial advice on how technology can boost their performance.
What you'll get at the end: New skills to make tech really work for you as well as
a discount of up to 50% on the costs of approved software, worth up to £5,000 for eligible businesses.
What kind of software will be covered:
build customer relationships and increase sales
make the most of selling online
manage your accounts and finances digitally
Who is eligible: All businesses can use the free online platform whilst the vouchers are expected to be for UK businesses with 5 and 249 employees and are registered at Companies House, have been trading for more than 12 months and are purchasing discounted software for the first time.
More details will be published this summer, so we'll keep you updated!
Our high streets might look a little different over the coming months, and whilst we might be small or medium our businesses have a vital part to play in getting our economy back on track.
We're small and mighty, but everything we've endured over the last 12 months does not mean we can't get support too, and this Scheme is just that — a helping hand on your business journey.