Only 7,000 of targeted 20,000 small firms accessed vouchers, with Labour citing lack of promotion and business leaders saying it was too confusing
A £30m government scheme to help small businesses pay for expert advice has been branded a flop after only a fraction of the cash was handed out. Labour said the growth voucher scheme was a victim of underwhelming marketing, while business groups accused the government of promoting an array of initiatives that small firms found confusing.
The Department of Business Innovation & Skills (BIS) handed out £3.6m of the £30m set aside to pay for technical and financial advice under a 50/50 funding plan that allowed state funds to match business costs up to a maximum of £2,000. Ministers had hoped that 20,000 firms would take up the vouchers, but by the close of the scheme earlier this year, the number of successful recipients came to little more than 7,000.
Source: The Guardian Circular Economy RSS