Earlier this week I attended a Growth Accelerator briefing event in West Bromwich, where we learned some interesting facts about what the programme has delivered to date and some exciting news about the next 2 years.
In just under 3 years, the Growth Accelerator programme has delivered some great results in the Birmingham, Solihull and Bromsgrove LEP area.
A total of 557 companies from start-ups to larger SMEs have joined the scheme, mainly in the manufacturing, IT, construction, business services and professional services sectors.
Between them those companies have generated 1,169 new jobs and over £47M of goods and services (GVA) during their participation in the Growth Accelerator programme. 161 of these businesses have undertaken Leadership and Management training for a total of nearly 800 individuals supported by grants of £888,000.
Across the whole country, businesses supported by Growth Accelerator are growing more than 4 times as fast as the average SME.
The good news is that the scheme has been extended for a further two years, from April 2015, so for businesses that have already participated and those who haven’t there is another opportunity to unlock their growth potential.
From April, Growth Accelerator will come under the umbrella of the Business Growth Service, which means it will link up with the Manufacturing Advisory Service (MAS), UK Trade & Investment, UK Export Finance, the Intellectual Property Office, Design Council and Innovate UK, making it easier for companies to access the range of services they need to grow whether that be in the UK or abroad, with existing products or new ones.
If you would like to know more about Growth Accelerator or the other elements of the Business Growth Service, you can visit their website or contact us.
Chris