£200 million programme for SMEs

A £200 million programme to help up to 26,000 of England’s SMEs has been launched by Business Secretary Vince Cable. Known as Growth Accelerator, the new partnership between the private sector and the Government will see business experts working with companies to “identify their barriers to growth” and ways to overcome these. Focusing on issues such as securing finance, commercialising innovation and developing management capability, the programme will ‘fast-track’ clients to organisations such as UK Trade and Investment and networks such as Angel Investors.

Mr Cable, said: “Growth Accelerator is an exciting new programme that is at the heart of the Government’s commitment to help businesses increase their chance of gaining access to finance and spurring innovation. The £200 million programme will deliver high-quality coaching that will help them grow and give the economy a real boost.

“The UK boasts vibrant SMEs that have the chance to become the household names of tomorrow. With targeted support, we are giving entrepreneurs a fantastic opportunity to take their businesses forward — to succeed both here and abroad.”

For more information, visit the Web site (www.businessinyou.bis.gov.uk).