The government has created the Growth Accelerator programme, a £200million scheme designed to help an estimated 26,000 British companies with growth potential.
The programme was launched in 2012 and has now been slightly amended to facilitate long-term growth by providing funding over a three to six-month period. The Government seeks to improve the quality of management in UK companies, with a focus on guidance in key areas such as leadership, securing finance and marketing. The programme is funded by the Government but run by private sector advisors and business coaches, such as ActionCOACH.
“With targeted support we are giving entrepreneurs a fantastic opportunity to take their businesses forward to succeed both here and abroad. I look forward to seeing what this great programme helps them achieve in the future,” says Business Secretary Vince Cable.
As the Government has rightly recognised most business people excel at their trade or profession but that doesn’t mean they’re great at the ‘business of business’. As a result many business owners fail due to financial trouble or burnout, their hopes and dreams have been lost even though they were trying their hardest to succeed. That’s where Action Business Coaches come in, helping business owners develop great teams, strong finances, powerful systems, unique marketing and selling to give them the business and life they dream of.
The Growth Accelerator Programme is a great way to introduce business owners to the concept and importance of business coaching and the funding towards business coaching can be a tipping point, which helps persuade a business owner to get started on a 1-2-1 coaching programme. ActionCOACH Ian Nicklin has been working with the Growth Accelerator Programme since Autumn 2012 and has since been able to significantly grow his franchise by helping an additional 24 businesses.
“It is a great Government scheme that has helped us bring a lot of new clients on board. It works well if you work hard to build the trust with your regional growth managers who allocate the funding. Our growth manager knows that we are proactive and find businesses with 20% growth potential for the programme ourselves which helps us to establish trust and enables us to benefit from the available funding. You have to be proactive, as it’s a long-term arrangement and not a one-hit wonder.
“We have put about 24 clients through the Growth Accelerator Programme so far and although it’s still early stages, one of my clients has seen 70% growth since they started the programme in Autumn. This is a great result and also the growth accelerator allows businesses to dip their feet into the water of coaching and, as a result, I have had quite a few clients that have continued working with me beyond the programme,” explains Ian Nicklin, ActionCOACH franchise partner since 2008.
Coaching is one of the fastest growing professions in the UK and some of ActionCOACH’s franchise partners have already achieved turnovers in excess of £40,000 per month and net operating profits of 70%. Their coaches build a rewarding business by helping other business owners succeed. If you are the type of person who finds a way to get things done, loves helping people and has a passion for learning, this is the fastest route to freedom and fulfilment that any franchise owner can enjoy.