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£200m SME initiative launched by Vince Cable

£200m SME initiative launched by Vince Cable

Category: Business

Updated: 23/05/2012
First Published: 23/05/2012

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Vince Cable has launched a £200 million initiative to help thousands of the UK's small and medium-sized businesses (SMEs).

The Business Secretary unveiled the programme which is expected to benefit up to 26,000 of 'England's brightest businesses' and will create around 55,000 jobs.

The Department for Business, Innovation & Skills will run the 'GrowthAccelerator' programme, which is to be made available to businesses which are deemed to have potential for rapid and sustainable growth.

The companies will be able to call on proven business experts who will work with companies to identify their barriers to growth and ways to overcome them.

This will be on issues such as securing finance, commercialising innovation or developing leadership and management capability.

"GrowthAccelerator is an exciting new programme that is at the heart of the Government's commitment to help businesses deliver growth by increasing their chance of gaining access to finance and spurring innovation," said Mr Cable.

"The £200 million programme will deliver high quality coaching to a range of businesses that will help them grow and give the economy a real boost.

"The UK boasts vibrant small and medium-sized businesses that have the chance to become the household names of tomorrow.

"With targeted support we are giving entrepreneurs a fantastic opportunity to take their businesses forward to succeed both here and abroad."

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