A business coaching firm has stepped in to cushion the blow for local businesses after the Government withdrew its Business Growth Service.
ActionCOACH, which has an international network of business growth experts, is offering subsidised support to businesses in the region which need a helping hand.
Launched in 2012, Growth Accelerator (GA) was a £200 million scheme designed to help 26,000 small businesses in England grow. Many businesses took up the opportunity it offered to access subsidised business advisers and coaches.
Under the Growth Accelerator scheme, SMEs had the opportunity to receive double the amount of investment they put in. So a business investing £1,500 would receive £3,000 worth of business expertise and advice.
Now, thousands of businesses have been left reeling after the Government cut the scheme’s funding following its recent Autumn Statement, as part of its £84 million spending review.
However, ActionCOACH, has pledged its help in the form of a £1,500 discount per business off their first six months of one-to-one and group coaching.
Ros Jones, an ActionCOACH business success coach serving the Yorkshire & Humber region, said she is disappointed to see the rug pulled from under so many SMEs, which play such a vital role in the local economy.
“The Growth Accelerator initiative has been a huge commercial success,” she said.
“Without exception, businesses I have coached as part of GA have shown remarkable increases in profitability and job creation, as well as achieving a sense of personal satisfaction.
“SMEs are the backbone of the UK economy and I’m really disappointed that the Government has shelved this important initiative so early in its term of office. This type of funding is essential for small businesses. It’s a matter of principle and that’s why I’m so committed to doing what I can to support them.”
By removing its financial support, the Government has passed the gauntlet to those in the private sector to support business growth, and many other support services will face an overwhelming challenge.
However, at ActionCOACH, understands that business owners are willing to invest in commercial value. Since 1993, through testing and measuring over 3,500 business growth strategies and tactics, it has developed a toolkit which enables its business growth specialists like Ros to guarantee return on investment for any UK business owner.