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growth

Supporting Local Small Business Growth

On 30 April, the BID held an event that informed Fitzrovia-based small and medium enterprises (SMEs) about the newly revised and Government-backed Growth Accelerator program.

Entrepreneurs heard presentations from the BID, Pro-Actions, Barclays Bank and Business Growth Services on the merits of doing business in Fitzrovia, having a clear business plan, ambitions for growth, marketing strategies and program eligibility over a breakfast sandwich. After the event, feedback was positive, with several voluntary members further exploring their eligibility for the Growth Accelerator with our panel of experts.

Are you eligible?

To be eligible for GrowthAccelerator, your business needs to:

  • Are you determined to grow?
  • Registered in the UK & based in England
  • Have fewer than 250 employees
  • Generate less than £40m in turnover per year

How much does it cost?

Your contribution depends on the size of your business. You pay a one-off fee:

  • For 1-4 employee businesses of £600 (+£700 VAT*)
  • For 5-49 employee businesses of £1,500 (+£700 VAT*)
  • For 50-249 employee businesses of £3,000 (+£700 VAT*)

Leadership and Management grants are match funded up to £2000 per eligible senior manager.

* VAT is based on 20% of the nominal value of the service at £3,500, so all businesses pay the same amount of VAT.

What do I get for my money?

The one-off fee is for the guidance and support you receive from your Business Growth Manager and Growth Coach, as well as access to masterclasses and workshops. In addition you will get access to match funding for Leadership and Management training.

Finally, you can also become part of the GrowthCommunity, a network for England’s high growth leaders.

Please contact us for further information or to join the scheme.