Loughborough’s School of Business and Economics launches Government-backed small business Growth Voucher Scheme
The Small Business Charter, the awards scheme aimed at driving local economic growth through business school support for entrepreneurs and small businesses, announced the launch of its tailored Growth Voucher programme this week. The initiative provides match funding to small businesses to pay for and access high-quality leadership and management advice from a national consortium of top business schools.
Thousands of businesses have already benefited from strategic support via business schools holding the Small Business Charter and through Government Growth Vouchers. This new roll out of Growth Vouchers, by six leading business schools that hold the Small Business Charter, will allow more entrepreneurs to access world class support to expand their businesses.
Loughborough University’s School of Business and Economics is a trailblazing member of the Small Business Charter (SBC) Award scheme, having received its award earlier this year in the first-ever SBC Awards ceremony at 10 Downing Street held on 5 June. The award was given to the School of Business and Economics in recognition of the role it has played in actively supporting and helping to develop British enterprise.
Enterprise Adviser to the Prime Minister, Lord Young, said: “Strategic advice is key to business success, and I welcome the arrival of the School of Business and Economics at Loughborough University as a partner delivering the Growth Vouchers Programme. With their support, more small businesses will be able to access the advice they need to succeed and grow and create more jobs and opportunities.”
Ian McNaught, Executive Director of the Small Business Charter, said: “I am thrilled and excited that business schools awarded with the Small Business Charter are now at the frontline of Government’s support network for ambitious small businesses. Growth Vouchers are a great new weapon in our armoury as we work to link the expertise of Britain’s world class business schools like the School of Business and Economics at Loughborough Universitywith the dynamism of our ever growing ranks of entrepreneurs.”
Dr Julie Holland, Director of the Glendonbrook Centre at the School of Business and Economics, said: “We are delighted to be able to offer opportunities for small businesses to work with us to achieve growth and make a positive impact to their long-term success.”
Small Business Charter business schools have directly helped over 8000 small businesses – working with them through workshops, mentoring and other business support. These schools have been behind 800 business start ups and have helped 4,700 students to find work placements in Britain’s exciting micro-business and start-up sector.
Teaming up with the Government’s Growth Voucher programme is yet another way in which the School of Business and Economics at Loughborough University is helping to support the small business community.
Eligible businesses can apply for a voucher to match fund up to £2,000 towards the cost of strategic advice in the following areas:
- Review of growth opportunity – competitor analysis tools
- Cash flow and general financial management
- Marketing and sales strategies for micro-enterprise
- Process mapping – understanding where I add value in my business
- Raising the finance for growth
- Planning next steps – with a business mentor
Notes for editors
Press release reference number: PR 14/187
- For more information on growth vouchers: www.greatbusiness.gov.uk/growthvouchers
Accredited strategic advisers can be found on the online marketplace at https://marketplace.enterprisenation.com/growthvouchers.
The programme is a pioneering government research project and is using a series of Randomised Controlled Trials to gather evidence on the impact support has on business performance.
Six business schools are participating in this pioneering project: Aston University, Aston Business School; University College London, Department of Management Science and Innovation; Southampton Solent, Faculty of Business, Sport & Enterprise; University of Nottingham, Nottingham University Business School; Nottingham Trent University, Nottingham Business School; and Loughborough University, School of Business and Economics.
- About the Small Business Charter
The Small Business Charter originated following Lord Young’s report ‘Growing Your Business’, which was aimed at bringing business schools, business and entrepreneurs closer together to deliver support for small businesses and drive local economic growth. Delivered in partnership with the Association of Business Schools, and with the support of Lord Young and the Department for Business, Innovation and Skills, the Small Business Charter Awards offers a springboard to unlocking support and investment for students, start-ups and small businesses. The Small Business Charter was launched at an event at No10 on 5th June 2014. For more information about the SBC: http://smallbusinesscharter.org/
- Loughborough is one of the country’s leading universities, with an international reputation for research that matters, excellence in teaching, strong links with industry, and unrivalled achievement in sport and its underpinning academic disciplines.
It has been awarded five stars in the independent QS Stars university rating scheme, putting it among the best universities in the world, and was named Sports University of the Year 2013-14 by The Times and Sunday Times. Loughborough is ranked in the top fifteen of UK universities and has been voted England's Best Student Experience for six years running in the Times Higher Education league. In recognition of its contribution to the sector, Loughborough has been awarded seven Queen's Anniversary Prizes.
In 2015 the University will open an additional academic campus in London’s new innovation quarter. Loughborough University in London, based on the Queen Elizabeth Olympic Park, will offer postgraduate and executive-level education, as well as research and enterprise opportunities.