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Launched in July 2022, more small businesses will now benefit from a new flagship government scheme that lowers the cost of top software while enhancing the efficiency and development of the UK's small and medium-sized businesses through management training tools. Over a million firms might benefit from it.
We have created a quick summary of the Government's Help to Grow scheme's features and instructions for applying via their website. Many of our clients will find this interesting, which could benefit them enormously.
The scheme falls into two categories:
Help to Grow: Management training
Assisted by prominent business schools, the management training program gives Small to Medium Enterprises (SMEs) access to modules covering financial planning and management, strategy, and innovation designed to help business managers reach their full potential and open the door to new networking opportunities with like-minded businesspeople. Entrepreneurs can now take advantage of this 12-week training program with the government covering 90% of the costs, leaving participants to pay the joining fee of £750.
Help to Grow: Digital scheme
The Help to Grow digital scheme is designed to provide SMEs with free information and support to help them adopt and implement new software solutions. As well as getting 50% off the costs of adopting innovative ‘cloud’ business software up to £5,000, they will receive free advice on installing and using it to maximise productivity, reduce admin time and streamline financial processes.
The management course will boost productivity and encourage UK small businesses not previously covered by the program to grow. Working with a small business mentor will help you position your company for more growth, tackle any business challenges, and assist with a tailored growth plan tailored to your needs.
The Digital scheme encourages small businesses to embrace new and exciting technology, which will help reduce and streamline day-to-day processes, enabling more time to focus on boosting productivity.
Products you may get a discount on include accounting software to help streamline day-to-day financial management in real-time, submitting tax returns, tracking, and paying bills on time. Customer Relationship Management (CRM) software can improve internal communication, encourage better team collaboration, and create cost-effective marketing campaigns.
With the addition of eCommerce software, e-businesses can extend their product offerings while increasing online sales of their goods and services. They will also have greater control over the administration of their finances, payments, and inventories.
Previously, the program was only accessible to businesses with more than five employees. Companies with at least one employee may now take part and benefit. As a result, there are currently up to 1.2 million qualifying enterprises - an increase of 760,000.
The Help to Grow scheme is open to business leaders who meet all the following criteria:
You will need to meet the following criteria:
Visit the government's "Learn to grow your business" website to learn more about the software discount, which CRM, Accounting, and eCommerce software is covered by the program, and how to apply for your £5,000 discount.
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