The programme, which was announced this week by Enterprise adviser to the Prime Minister Lord Young, will provide Growth Vouchers which pay for advice on areas such as finance and cashflow, recruiting and developing staff, improving leadership and making the most of digital technology.
Only businesses which have been running for a year and have fewer than 50 employees may apply and the vouchers, which are worth up to £2,000, must be matched funded by the business itself.
Successful applicants will be chosen at random by the Department for Business Innovation and Skills and the Cabinet Office's Behavioural Insights team. The impact of the business advice will then be measured over the coming year.
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