Government's growth accelerator prog for business
This week Vince Cable announced this new initiatiave. It is aimed at high growth potential enterprises from micro up to top end SMEs.
basically £200millionGBP is available to help 26,000 businesses. They have to contribute between £600 to £3000 dependinding on number of employees to get on the scheme.
This seems a good deal to me as they are getting on average £7500 spent on them for very little investment - about 5 times their average investment.
The lead advisor is Grant Thornton, although there are other specialists in tech, marketing etc who are part of the programme.
From the professions perspective, what impact do we think this will have on accountancy firms heavily involved in the business advisory market.
Will GT end up with all the tastiest clients, given that accessing the cash is pretty much a closed shop?
Remember that even the smallest clients can get on this programme provided they have the ambition and wherewithall to grow.
Although there are far more fish than 26,000 in the sea the problem with selling business advisory services is the apathy in a large tranche of the SME market such that the only motivated companies get hoovered up by this scheme.
Will we truly be left with compliance services only to offer.
Just interested in peoples views.
- How do you pay Inheritance Tax when HMRC haven't demanded it 360 5
- Scientist switch to accountancy - work experience? 1,174 30
- Treatment of private ambulances on introduction to business 137 4
- New Company reviews please 624 16
- Is there no lower level to the work a lawyer would take on. 1,072 33
- Business only use of company car 744 27
- Voluntary Disclosure 392 8
- Gift to son by parents 159 1
- valuation of vehicles 490 19
- How to revise RTI for Moneysoft 285 4
- Director Salaries - Sole Director Limited Company who is also employed elsewhere 174 1
- Ethical Issues / Conflict of Interest 404 3
- Mortgage Interest - Tax Deductible 462 4
- BTC is slow 309 3
- Director registration for SA question 531 17
- Issues with freelancer taking zero salary from limited company 467 6
- Tax on LLP members drawings not covered by future profits 518 22
- Dormant company late with their CH submission 526 14
- Penalties for late PAYE scheme 366 4
- VAT with Russia 284 2
- RTI Rollback to delete incorrect data 321
- Any thoughts on Capium? 259
- Vouchedfor.co.uk 258
- Motor Traders Assistant Bookkeeping Programme queries 248
- Tracesmart/Lexis Nexis AML software? Any opinions? 227
- auto enrolment 200
- Sage Compatible P60's Self Seal 186
- Continuity of practice-ACCA 172
- How to account for investment in JV? 165
- Recommended International mobile phone coverage and costs? 158