Use the £200m sat on by energy giants to fund advice for small businesses, says network group
A small business network is calling on the Big Six energy providers to unlock funds held in closed business accounts to support a new growth initiative.
Enterprise Nation is suggesting that part of the estimated pot of £204million unclaimed by owners could be put in a national Enterprise Voucher scheme.
The new scheme would aim to improve competency and global trading skills and increase the proportion of contracts secured by small British businesses.
Support: Marcus Whittington of Bath Boutique Stays, whose properties include the former home of writer Jane Austen
It would replace the Coalition’s Growth Vouchers programme. Last month it emerged that only about 10 per cent of the £30million committed to the Government’s Growth Vouchers scheme has so far been used.
One firm that has used Growth Vouchers is holiday rentals firm Bath Boutique Stays. Its properties include Jane Austen’s home. Turnover has risen from £250,000 to £600,000 in a year.
Businesses have until March 31 to make use of the trial, which allows firms to apply for vouchers towards the cost of advice in areas such as finance and digital technology.
Emma Jones, founder of Enterprise Nation, which built the platform for Growth Vouchers, said: ‘We always knew that changing the culture to one where every business actively seeks strategic advice would take more than 15 months to achieve. To reach a point where people are considering using the scheme is a great achievement, and we’d like to see it continue.
‘Small firms are crying out for advice. Meanwhile, here are the Big Six energy companies sitting on cash that’s crying out for a worthy cause exactly like this.’
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