Small firms can apply for vouchers to help growth

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Small businesses across Coventry and Warwickshire are being given the chance to access new ‘vouchers’ to help them grow.

The £30 million Growth Vouchers scheme, which is being launched by the Department for Business Innovation and Skills (BIS), is available to businesses which are VAT registered, have been trading for over a year and have 49 employees or less.

They can apply for up to £2,000, to match their own investment, to be spent on strategic business advice to support their growth aspirations.

The advice available can cover five key areas: raising finance and managing cash flow; recruiting and developing staff; improving leadership and management skills; marketing, and making the most of digital technology.

In the first instance, businesses need to visit to establish the eligibility and register their interest. They will then receive a free business assessment either on-line or from an adviser.

West Midlands Chambers LLP has been chosen as the delivery partner for this region.

Louise Wall, regional coordinator for the scheme said: “Following the assessment the business will be notified within a matter of days as to whether they have been selected.”