15 Sep 2010

Following on from recent cuts to business support programmes within the West Midlands Region we are pleased to be able to publicise a High Growth Offer that will be available for a limited period of time on a first come first served basis

To be eligible for High Growth Support Package the business needs to fall into either of these criteria:-

Business Characteristics

Start up

  • Less than 12 months trading
  • Realistic potential to reach £250k turnover within first 3 years of trading
  • Company employing an additional 2 or more employees within 12 months of grant application

Established

  • Trading over 12 months
  • 10 - 49 full time employees
  • 10% year on year growth in turnover or employment in 3 year period or turnover of £500k with realistic ambition to grow to £1m in 3 years
  • Have afinance Director in place
  • Have an experienced Management Team in place

Please note that these characteristics are for guidance. Grant applications and requests for mentoring support from businesses that do not satisfy all requirements will be treated sympathetically dependant on sector characteristics and probable return on investment.
The grant offer consists of the following:-

Established businesses

Businesses will receive up to 10 days fully funded mentoring/coaching and have access to a Grant subsidy.  The grant subsidy has an upper limit of £7500 of grant is put in place, 50:50 match funded towards a business growth consultancy project of up to £15000. Grant funding can be used in a number of ways but the consultancy project must contribute to the growth strategy.

Start up businesses

Businesses will receive up to 5 days mentoring/coaching. 20 start up businesses will be able to access the mentoring/coaching support

Mentoring / coaching service will be tailored to client needs, addressing barriers to growth or creating effective growth strategies and could include “practicalities” like inventory / stock management, IP protection, premises, etc. The grant subsidy has an upper limit of £7500 of grant is put in place, 50:50 match funded towards a business growth consultancy project of up to £15000. Grant funding can be used in a number of ways but the consultancy project must contribute to the growth strategy.

If you would to discuss the above Grant scheme and potential eligibility for your business please contact

Karen Essex, Business Link

Tel         (07792) 589871

Email     karenessex@businesslinkwm.co.uk

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