The government has distributed the first 1,000 of its new Growth Vouchers.
The scheme, which provides subsidised business advice to the UK’s small firms, has now provided vouchers worth £2 million of its £30 million total.
Growth Vouchers are available to help the country’s smallest businesses access strategic advice in fields like marketing, technology, and finance. Businesses can find advisors with which to spend their vouchers using a dedicated Marketplace, sponsored by Simply Business.
The scheme is forecast to provide vouchers to some 20,000 eligible businesses over the next 12 months. Successful applicants will receive a voucher worth up to £2,000, which they then match.
The scheme is open to businesses based in England that have been running for less than a year, have fewer than 49 employees, and have not sought strategic advice in the last three years.
Skills and Enterprise Minister Matt Hancock said: “The Growth Vouchers programme is unique in that it will help businesses access support services while providing scientific data on the exact benefit of tailored advice.
“We are determined to help small businesses grow and thrive – this is not only the surest way to create jobs but the research will show us how to best target support for future entrepreneurs and small businesses. That is why we are providing funding to help small businesses access this support.”
Read more about applying for a Growth Voucher.