According to the Treasury Budget document, the programme will test a variety of innovative approaches to help small businesses overcome barriers to growth. One of these barriers has been limited use of external advice.
The voucher will be used to make a contribution towards the initial cost of advice on specific areas such as finance and business planning, cash flow and credit management. Businesses will be expected to spend the voucher with an approved list of advisers, as was the case with the now disbanded Business Link network. The new scheme, however, is likely to include more accountants.
The finer details of the initiative will be worked out in the next few weeks.
Clive Lewis, head of enterprise at the ICAEW, said...
About Robert Lovell
Business and finance journalist