The Department of Business, Innovation and Skills' 2014 Small Business survey found that despite 73% of UK SMEs claiming aspirations for growth, only 28% feel confident about entering new markets and almost half have had difficulties in accessing finance to achieve this growth. The view of small firms is that finance is hard to obtain. Information is opaque.
Building on GetSet for Growth's success in supporting over 2,000 businesses across the UK, the launch of the service in the East of England will be welcome news to many small and medium sized businesses that need support on the road to growth.
Bev Hurley, chief executive of YTKO Group, which is based in King's Hedges Road, Cambridge, claims: "Since launching GetSet in 2013, the service has more than proven its success at helping businesses combat the two biggest barriers to growth - finding enough profitable customers and accessing finance. This latest investment from the Regional Growth Fund is further validation of this, and we're delighted to be able extend our support to businesses in the East of England."
'Ambitious but stuck' businesses from all sectors and of all sizes will be eligible to apply for this new fully funded support, but will need to demonstrate both their intention and potential to grow in order to qualify.
Once accepted into the programme, businesses will receive a tailored package of support, comprising of workshops, masterclasses and hands on 1:1 expert advice, aimed at targeting their specific challenges and increasing their knowledge, confidence and management skills.
Marketing and finance professionals, many of whom have had first hand experience running their own businesses and overcoming these challenges, will be on hand to help SMEs create robust, strategic growth plans, build effective marketing and sales strategies designed to increase organic growth, and identify and secure sources of finance. Sounds good.
GetSet's operations director, Lucy Carmichael says: "There are so many companies in the East of England who have the potential to take their business to the next level, but who need a bit of support getting there. It's a privilege to be able to respond to this need, thanks to the Regional Growth Fund, and we're looking forward to getting out into the community."
Over the coming weeks, the GetSet East of England team will be reaching out to local businesses that may benefit from the programme. The teams will also work closely with a range of local and national partners, including Hertfordshire LEP, Stevenage Borough Council, East Hertfordshire District Council, Lloyds Banking Group, KPMG, URICA and Bibby Financial Services - to explore new opportunities for supporting the growth of these companies, that are the lifeblood of the UK economy.
Business owners that would like to apply for this fully funded support should visit: getsetforgrowth.com/register or call 0800 917 9326.