News

October 26, 2012 - Rachel Miller

Growth Accelerator takes to the road to help fast-growing firms

GrowthAccelerator — the new coaching service aimed at helping ambitious start-ups and growing businesses — has conducted a series of roadshows to spread the word about business growth.

GrowthAccelerator is a partnership between private enterprise and government that offers growing businesses access to a network of world-class growth experts as well as successful peers to provide them with inspiration and know-how to achieve sustainable growth. According to BIS research, businesses that seek external advice are 50% more successful than those who don't.

The service promises to help firms attract investment by developing their proposition and introducing them to funders. It will also help growing businesses with other issues such as product development and innovation.

GrowthAccelerator aims to work with 26,000 businesses over three years. It has built a 100-strong team of growth managers who are looking to match businesses with 800 experienced growth coaches.

To be eligible, businesses need to be registered in England and have less than 250 employees and a turnover of less than £40m. Businesses can find out if they are eligible by doing a simple online test.

Fees for participation in the scheme are:

  • £600 for a micro or start-up business (up to 9 employees)
  • £1,500 for a small businesses (10 to 49 employees)
  • £3,000 for medium-sized firms (50 to 249 employees)

The GrowthAccelerator team has taken its message on the road, meeting potential high growth businesses in cities such as Bristol, Manchester and Liverpool. SMEs that are interested in GrowthAccelerator can meet the team at the ICAEW's SME Conferences in London and Manchester on the 8th and 27th of November.