Business owners have until 31st March 2015 to apply for their Growth Vouchers. As one of only a very few approved Growth Voucher suppliers in this part of Essex, we wrote about our first experience of these here.
What is a Growth Voucher?
Growth Vouchers are a grant from the Government that will match fund your investment of up to £2,000 for strategic business advice.
All SMEs can apply in any sector - manufacturing, law, engineering, IT, retail, printing, health, automotive, design, etc, etc...
The only criteria are:
Your business must:
- have 249 employees or fewer (including any employees of companies that own a stake in your business)
- be registered in England
- actively sell goods or services
- be independent (ie no more than 25% is owned by other businesses or organisations)
- have a turnover of less than €50 million
Since those early days, we have become a bit more experienced and Growth Vouchers have become a little less draconian in their approval process, but it is still a lottery.
Some business owners are successful and we are working with several who have been able to double the budget they are able to spend with us.
Even if you only have £150 to spend, that becomes £300! So it's worth it.
However, other businesses will apply and not be successful - like us!
Yes, that's right, we were not approved for a Growth Voucher.
But that does not mean that YOU should not try to apply. As I said earlier, businesses are chosen randomly and some of our clients have been the beneficiaries of a nice little lump sum.
What areas are covered by Growth Vouchers?