Growth voucherspresentationv2
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A brief presentation about the new government incentive for small/micro businesses in the UK
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Growth voucherspresentationv2
- 1. GOV.UK Growth Vouchers are they for your business? Christine Rayner, Tangram Limited www.tangram.ltd.uk
- 2. The Government’s launched £30m Growth Voucher marketplace on Monday 27 January 2014. New government initiative Growth vouchers Up to £2000 www.tangram.ltd.uk
- 3. Eligibility Your business must: Have 49 employees or less Have a turnover of less that 10M € Be independent Be registered in England Have been actively selling goods or services for at least 1 year Not have paid for strategic business advice in the last 3 years Must have received less than 200,000€ of public support in the last three fiscal Have an email address www.tangram.ltd.uk
- 4. How can a small business get a Growth Voucher? Go to https://www.gov.uk/apply-growth-vouchers Complete the application form Meet the criteria Work through a Diagnostic Filter Wait for notification www.tangram.ltd.uk
- 5. What can they be spent the vouchers on? FINANCE HR MANAGEMENT DEVELOPMENT MARKETING DIGITAL TECHNOLOGY www.tangram.ltd.uk
- 6. A few examples of what growth vouchers could be used for Performing a skills analysis Developing a financial strategy for growth Drawing up a plan for managing change Advice on how to increase your presence online How to use technology to provide excellent customer service www.tangram.ltd.uk
- 7. You have a voucher – what next? Go to https://marketplace.enterprisenation.com/ Browse the approved growth voucher suppliers Choose a supplier Discuss your requirements www.tangram.ltd.uk
- 8. If the value of a voucher is £2000 how can I spend it? You spend £1,200 on support: £600 from you and £600 matched from government You spend £4,000 on support: £2,000 from you and £2,000 from government You spend £5,500 on support: £3,500 from you and £2,000 from government www.tangram.ltd.uk
- 9. How do I redeem my voucher? Within three months Proof that the business has paid the supplier in full VAT element One claim per voucher www.tangram.ltd.uk
- 10. The Growth Voucher Marketplace Enterprise Nation No public sector funding Free for small businesses to use. A wide variety of suppliers www.tangram.ltd.uk
- 11. How can I become a supplier? Two levels of supplier Growth voucher suppliers Other suppliers Free to register www.tangram.ltd.uk
- 12. Growth voucher suppliers Are members of a trade body ACCA - Professional ACCA qualification ICAEW – ACA, Full member CIMA - CIMA member in practice ICM - full member (MICM, MICM(Grad), or FICM) CIPD (Chartered Institute of Personnel and Development) - Chartered member Institute of Consulting – Member Chartered Institute of Marketing- MCIM Chartered Institute of Public Relations - CIPR BCS The Chartered Institute for IT - Chartered IT Professional (CITP) UKITA (UK IT Association) – UKITA Full member (excludes Associate grade) www.tangram.ltd.uk
- 13. AND……… Three years experience of working in, or advising, small businesses Professional indemnity insurance www.tangram.ltd.uk
- 14. END DATE – This is a pilot programme that is schedule to run for 15 months www.tangram.ltd.uk
- 15. Christine Rayner Tangram Limited christine@tangram.ltd.uk Growth Voucher supplier for strategic Marketing Advice www.tangram.ltd.uk
Editor's Notes
- At the end of January, the government launched a £30 million research programme to test the value to small businesses of accessing professional advice. The subsidised business support will be delivered in the form of randomly allocated Growth Vouchers, enabling businesses to receive up to a 50% subsidy towards the cost of obtaining advice on 5 key topics that help businesses to grow. Please note that the information contained in the notes that accompany this presentation has been selected from the enterprise nation website and the gov.uk website – please read all terms and conditions in detail.
- Announced by the Chancellor in the 2013 Budget and championed by the PM’s Enterprise Adviser, Lord Young, the Growth Vouchers programme will deliver subsidies to help businesses access the advice they need to help them grow. The majority of small/micro businesses that participate in this programme will be allocated vouchers to spend on strategic advice from suppliers in the private sector, matched with their own funds, on one of 5 categories of support.
- The Programme is open to small and micro businesses, including the self-employed that fulfil all of the following criteria: Must have 49 Full Time Employees (FTE) or less (see note 1). A full-time person counts as one FTE. Please score any part-time employees in proportion (e.g. if an FTE works 40 hours per week, then a part-time employee working 20 hours = 0.5 FTE). Must have a turnover or balance sheet total of less than Euro 10 million (see note 1); Must be independent (i.e. no more than 25% of the business is owned by one or more external organisations); If part owned, collectively the companies in the group must have 49 employees or less and their turnover must not exceed Euro 10m); Businesses must be registered in England (at Companies House, or registered with Her Majesties Revenue & Customs (HMRC) if self employed); Must be able to demonstrate that the business has been actively selling goods and / or services for at least one year; Must not have already paid for any strategic business advice in the last three years (see Notes 2 - 4); Growth Vouchers are not available to businesses which have already discussed or agreed a package of support with a supplier against which the Growth Voucher would be redeemed; Must have received less than Euro 200,000 of public support in the last three fiscal years (previous two fiscal and current fiscal year), or which is currently pending before applying for the Growth Voucher programme and satisfy the eligibility criteria for De Minimis aid; Must not have not applied for a Growth Voucher before; Growth Vouchers cannot be used alongside any other forms of public funding (i.e. they cannot be used in conjunction with European Regional Development Funds or other forms of public finance); Must have an e-mail address.
- From the launch date of the programme, you will be able to apply on a government website. If you meet the criteria, you will then be guided through a diagnostic filter which will help you assess your business needs. The diagnostic process will be done either on-line or through a face to face meeting with an adviser. After this, you will be notified if you have received a voucher.
- The five specific areas have been identified as finance and cash flow recruiting and developing staff improving leadership and management skills marketing, attracting and keeping customers making the most of digital technology
- Visit the Enterprise Nation marketplace where you will find a directory of both growth voucher suppliers and non growth vouchers suppliers. You can only spend you vouchers with growth voucher suppliers. Find suppliers who supply the advice specified on the voucher – I would recommend you speak with 2/3 suppliers to get a good fit with you and your business. Choose a suppliers that best meets you needs, agree the project and budget and timings
- The follow information has been selected from the gov.uk website – please read all terms and conditions in detail. If randomly selected to receive a Growth Voucher the Business agrees to submit a claim form and De Minimis Declaration, having received and paid for the advice, to a selected partner. In addition, the Business agrees to supply any supporting documentation required, such as ‘proof of payment’ and business bank account details. 8. The Growth Voucher cannot be used to cover the VAT element of the cost of the advice. The Business agrees that it will pay any VAT charged by their supplier. 9. If the Business is VAT registered it should reclaim the VAT in the normal way through your quarterly VAT return to HMRC. If the Business pays flat-rate VAT it cannot claim it as an additional cost, but it must include the cost in its annual return. If the Business is not VAT registered it cannot claim back the VAT from HMRC and must pay that amount itself. Only one claim per Growth Voucher can be submitted up to the value of £2,000 (match funding). The claim must be for strategic business advice that has been supplied by a single supplier for the business advice area that the voucher was awarded. The supplier must be registered on the online Marketplace as an accredited Growth Voucher supplier. The Business cannot use a Growth Voucher with a supplier that is: directly connected to or part of the participant’s own business (including being a holding company or a subsidiary company); and/or whose directors, employees or advisers are engaged directly or indirectly with the Business.
- Enterprise Nation responded to an open competition from BIS (Department of Business Innovation & Skills) to provide an on-line marketplace as part of the Growth Vouchers Programme. Through a pitch and presentation process, Enterprise Nation secured the opportunity to build the marketplace. A government grant was offered to contribute towards marketplace build but Enterprise Nation opted instead to fund the project privately. The marketplace is being built and developed at no cost to the taxpayer and with support from seven top brands who are: Vodafone, Regus, Toshiba, EDF Energy, Simply Business, Citrix and Sage.
- There will be two levels of supplier. If you meet the minimum standards required and are a full member of a trade or professional body, you can offer advice as part of the Growth Voucher programme. If you're not a member of a trade or professional body, you can still be a supplier – just not one with whom a small business can spend their Voucher. Bear in mind, there will be lots of businesses visiting the Marketplace to look for advisers so it’s still worth being profiled on the marketplace and it’s free to register.
- Managing cashflow, late payments and negotiating finance ACCA - Professional ACCA qualification ICAEW – ACA, Full member CIMA - CIMA member in practice ICM - full member (MICM, MICM(Grad), or FICM) Developing skills and taking on staff CIPD (Chartered Institute of Personnel and Development) - Chartered member Improving Leadership and Management Institute of Consulting – Member Marketing, attracting and keeping customers Chartered Institute of Marketing- MCIM Chartered Institute of Public Relations - CIPR Making the most of digital technology BCS The Chartered Institute for IT - Chartered IT Professional (CITP) UKITA (UK IT Association) – UKITA Full member (excludes Associate grade)
- It should be noted that this pilot scheme is scheduled to run for 15 months which gives it an end date of March 2015