Like any skillset, the discipline of running a business takes time to learn. Newcomers to the challenge are often prone to making misguided decisions, or underestimating the magnitude of the work that looms before them. They might overlook key considerations, and, without an objective hand to guide them, end up down a dead end.
If you are exceptionally lucky, you might escape with plain sailing from the very day you embark on your new venture. But the rest of us mere mortals will encounter some or all of these teething problems, and possibly others.
Good fortune aside, the surest way of avoiding or minimising hiccups is to seek help. A new government scheme called GrowthAccelerator aims to provide bespoke coaching to leaders of small- and medium-sized companies, giving the nation’s entrepreneurs the best possible chance of success.
Seeing new and expanding businesses as a lynchpin of the UK’s economic salvation policy, the government is putting its money where its mouth is. GrantTree, whose expertise revolves around government funding solutions for innovating companies, is a keen proponent of any accessible and affordable assistance supporting ideas that deserve to develop into marketable products.
GrowthAccelerator is a partnership between private enterprise and government. It links the expertise of an 800-strong network of “growth coaches” with the needs of its client companies, who pay a small fee to benefit from unrivalled knowledge and support.
The cost to businesses depends on personnel head count. Small outfits with one to four employees can join the network for £600, medium-sized companies of 5-49 people pay £1,500, while larger concerns of 50-249 workers pay £3,000.
The eligibility criteria are simple. Businesses must be UK-registered, with fewer than 250 employees and a turnover of less than £40m. [An online test](http://http://www.growthaccelerator.com), which takes a few minutes to complete, will help you determine the suitability of your business for the scheme.