Eligible companies that are accepted onto GrowthAccelerator (now part of the Business Growth Service) are able to access £2,000 of match-funded training grants towards the leadership and management training of eligible senior managers within the business.
This “Leadership & Management” grant is available to small and medium businesses with an annual turnover of less than £40m p.a. and with fewer than 250 full-time employees.
The Department for Business, Innovation & Skills (BIS) have also announced a pilot scheme called the Growth Impact Pilot to test how well small businesses respond to coaching vs. training. This scheme is available exclusively to businesses with turnover of between £250,000 p.a. and £2,000,000 p.a. These businesses can access the aforementioned grants without having to pay the GrowthAccelerator joining fee. In addition, a selection of companies are selected at random to receive coaching as well as their training. If this is the case, then these companies must pay £700 VAT* (which is reclaimable via the usual accounting processes) and must take the coaching. This pilot scheme has a limit of just 600 places, which are filling up quickly. Businesses within this size bracket who are looking for training in the new year can sign up to this scheme now, with a view to securing the funding for training in the new year.
Sam Landsberg is the contact at GrowthAccelerator; please contact him directly for more information or to refer potential clients for the grant.
He can be contacted directly via email@example.com or via his direct dial, 0207 728 3223.
* The £700 VAT figure is calculated against the total value of coaching which is set at £3,500.