Over the last year, the Government launched the Help to Grow scheme to support small and medium-sized businesses as they emerged from the Covid 19 pandemic this programme was designed to drive growth and job creation through technology and innovation.
The initiative has two parts Help to Grow: Management and Help to Grow: Digital and is made up of over half a billion pounds worth of funding. The MIA has been invited this week to take part in a webinar to help understand in more detail the Help to Grow programme and how best to support members to get the most from the scheme.
We will report back on any new information or benefits once we have attended the Government session, but in the meantime, here are a few more details from BEIS on the two elements of Help to Grow.
Help to Grow: Management has been running since July 2021, providing business leaders with 90% subsidised management and leadership training from UK business schools, to help them learn new skills and boost profits. The Office for National Statistics has found that even small changes to management practices can yield an almost 10% increase in business productivity. Businesses across the country have reported greater confidence and expectations of growth after attending the course.
Launched in January, Help to Grow: Digital offers businesses free and impartial advice and the chance to apply for a financial discount worth up to £5,000 towards the costs of purchasing approved, productivity enhancing software, with the initial focus on digital accounting and customer relationship management. The scheme can help businesses save time and money, so boosting their performance and growth by becoming more innovative, more competitive, and more profitable. Research by the Enterprise Research Council and the Office for National Statistics has found that adopting digital technologies is linked to business productivity increases of 7-25%.
Find out more about the Help to Grow scheme here.