Small businesses in the UK can now register their interest in joining ‘Help to Grow’, the government’s new scheme to help SMEs prosper post-pandemic.
As part of the over-arching ‘Plan for Jobs’ campaign announced in July 2020, the Help to Grow: Management initiative will launch in June and support small businesses to achieve their growth goals.
The scheme, announced at Budget 2021, will enable small businesses to access a 12-week-programme delivered by leading business schools across the UK. The programme, which is 90% subsidised by the government, will combine:
- a practical curriculum,
- one-to-one support from a business mentor,
- peer-learning sessions, and
- an alumni network.
The second strand of Help to Grow, Help to Grow: Digital is expected to help 100,000 SMEs and is due to launch in the autumn.
In addition to being able to access advice through an online platform, eligible businesses will also be able to get a discount of up to 50% on the costs of approved software, worth up to £5,000. Vouchers are initially expected to be available for software that helps businesses:
- build customer relationships and increase sales,
- make the most of selling online, and
- manage their accounts and finances digitally.
This may be particularly useful to help businesses preparing for Making Tax Digital (MTD) for income tax self assessment and MTD for corporation tax.
The schemes are open to UK businesses with between five and 249 employees that have been operating for more than one year. Charities are not eligible for the management scheme and only businesses registered at Companies House can apply for the digital scheme.
Business can register their interest in joining either of the schemes on helptogrow.campaign.gov.uk
Hear more at Virtually Live!
ICAEW's flagship digital conference returns for 2021 and includes sessions on tax. Hear from experts including Rebecca Benneyworth and ICAEW's Anita Monteith.
More support on tax
ICAEW's Tax Faculty provides technical guidance and practical support on tax practice and policy. You can sign up to the Tax Faculty's free enewsletter (TAXwire) which provides weekly updates on developments in tax.Sign up for TAXwireJoin the Tax Faculty
This guidance is created by the Tax Faculty, recognised internationally as a leading authority and source of expertise on taxation. The Faculty is the voice of tax for ICAEW, responsible for all submissions to the tax authorities. Join the Faculty for expert guidance and support enabling you to provide the best advice on tax to your clients or business.