Originally written by Anna Jordan on Small Business
The £520m Help to Grow scheme, set to be announced in tomorrow’s Budget, could help 130,000 small and medium-sized businesses.
According to the Times, the Government scheme will provide access management training, technology advice and discounted software to improve productivity.
This plan will enable access to some of the UK’s top business schools, while encouraging more companies to adopt technology, in the hope of opening up opportunities to small businesses that larger businesses can normally afford.
Business schools are due to offer 50 hours of tuition with one-to-one support from a mentor.
The scheme will have two streams:
Digital
Digital will be an online service offering free advice on how businesses can improve their digital capability as well as allowing them to get 50 per cent off approved software.
Management
Management will provide subsidised management training to ‘enhance the skills of leaders’ in areas like financial management and marketing.
Andy Haldane, chief economist at the Bank of England, has said that poor management practices at companies may contribute to poor productivity.
The Federation of Small Businesses (FSB) national chair Mike Cherry said:
“Projects like this really make a difference for small firms who are wanting to change the way they operate, expand their horizons