Small businesses could receive up to £5,000 towards the cost of buying new software to support their growth ambitions.
From December, the government’s new Help to Grow: Digital programme will give free and impartial advice to businesses on how going digital can help them grow and reach their full potential.
The scheme for eligible small businesses provides vouchers worth up to 50% (up to £5,000) off the cost of approved software from a range of approved leading technology suppliers.
Technology can increase sales per employee by 18%
Chancellor of the Exchequer Rishi Sunak commented: “Small and medium-sized businesses are the backbone of our economy, creating jobs and prosperity across the United Kingdom. That’s why we’re introducing Help to Grow, a scheme that will give them the tools they need to innovate, grow and help drive our recovery from coronavirus.”
On Help to Grow: Digital, he said: “We’re creating a new, online hub that will offer free advice on what tech will best help SMEs save time, money and help them grow. Research shows that technology can increase sales by around 18% per employee over the course of three years.”
30,000 SMEs can access world-class business expertise
People working for small businesses are also being encouraged to sign up for the 12-week Help to Grow: Management course, offering one-to-one support from a business mentor and access to an alumni network.
Delivered in partnership with Small Business Charter, courses are running at leading business schools across the UK. The programme is 90% funded by the government so attendees pay only £750.
The Chancellor also said that the Help to Grow: Management programme will give 30,000 SMEs access to world-class business expertise on everything from financial management to marketing.
“Dozens of our leading business schools across the country will offer 50 hours of tuition with one-to-one support from a business mentor. In fact, there’s evidence to suggest that even small improvements in management practices can lead to 10% increases in productivity,” he said.