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What is Help to Grow? Small business scheme could be cut

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Rishi Sunak established the scheme in 2021 (Getty Images)

Rishi Sunak established the scheme in 2021 (Getty Images)

The Help to Grow scheme, which supports the training of small business leaders, could be axed as part of a review to find savings. It is thought that the business support schemes such as the Help to Grow Scheme could be cut to meet the Treasury‘s savings demands. According to a report from The Times, a source at the business department said that they are “reviewing all those schemes to judge how effective they have been and if they’re worth continuing with”.

They also said “Both the Help to Grow: Digital and Management schemes remain in place” and that they are continuing to enrol new applicants.

What is the Help to Grow scheme?

The Help to Grow: Management scheme was launched by Rishi Sunak in 2021 when he was Chancellor of the Exchequer. It trains small business leaders on 12-week courses at business schools, where they will receive support from a business mentor, access to an alumni network, and help to develop a business growth plan. They will be trained on subjects like leadership, marketing, employee engagement and financial management.

UK-based businesses with between five and 249 employees, which have been operating for more than a year and have at least one level of management, are eligible to apply. Businesses pay GBP750 with 90 per cent of the cost funded by the taxpayer. In May, Mr Sunak met businesses in Suffolk that had benefited from the scheme.

He said: “Small businesses are the heart of our economy – creating jobs and prosperity across the UK. It’s been inspiring to meet so many of them in Suffolk today. “I want them to know we will always stand behind them which is why we have written to thousands of businesses across the country to highlight government support on offer to support them in the uncertain months ahead.

“From cuts to employment taxes and business rates, to incentivising firms to train and invest more, we want to create the conditions for our SMEs to thrive, helping the economy to recover and grow, and support jobs.”