Funding News – Launch of £200 Million GrowthAccelerator for SMEs in England.

The new GrowthAccelerator initiative is designed to help up to 26,000 new and evolving businesses in England to achieve their ambition and potential.

Through the service, business experts will work with companies to identify their barriers to growth and how these can be overcome. This will include tackling problems such as:

  • Securing finance.
  • Commercialising innovation.
  • Developing leadership.
  • Management capability.

Business owners who intend to grow their company and double their activities over a three year period are being targeted through the service. This will be achieved by matching applicants with business experts to define a tailored growth plan.

Through the initiative, businesses will be assisted with raising money, implementing a business development strategy or bringing a new product to market. Applicants may also qualify for a Leadership and Management grant of up to £2,000 per individual to support skills development.

Start-up and evolving businesses in England that have the potential for rapid and sustainable growth may apply for support through this programme.

For further information please visit

Source: Department for Business, Innovation & Skills, 23/05/2012