BizSmart

Who is it for?

Worcestershire Business Accelerator is open to businesses in Worcestershire that fit the eligibility criteria – namely those operating on a B2B basis and that have been trading for 2 years or more.

So far, a diverse range of businesses from across the region have taken part in the programme, ranging from traditional manufacturing companies, to translation services for the deaf and even a wormery!  It is this variety that makes the programme so interesting and challenging to the BizSmart advisors, and proves that the basic principles can be applied, no matter what the industry or business.

What help is available?

Eligible businesses are entitled to a total of 18 hours support through the Worcestershire Business Accelerator programme.  Initially, this will take the format of one-to-one sessions, enabling the BizSmart advisor to spend up to 12 hours with the business, finding out what they need support with in order to help them grow.  This might include:

• Formulating and executing a strategy
• Finding and retaining the right people
• Managing cash flow
• Once identified, the advisor will choose one or two areas to focus on and provide the necessary support in manageable amounts, to enable ideas to be easily absorbed and plans executed.

The remaining six hours give business owners the chance to benefit from peer to peer support.  By matching them up with other business owners in the same sector, BizSmart facilitate mastermind groups, known as Smartboards, to give the business a sounding board and access to valuable experience.

What do participating business gain?

Participating in the programme will give businesses the knowledge and practical support to understand how to grow their business.

Depending on the support areas identified by their advisor, businesses may gain:

• A 3-year growth plan – this outlines the business’s strengths and the exact elements that will be scalable, to ensure that the business has the right model for growth.  It will also include a strategy to show how the growth plan will be achieved.
• A 12-month operational plan – this will detail the short-term strategy and the plan for executing it during the first year to support growth.
• Access to funding – this will include helping the business to prepare a business plan to enable them to apply for any available funding that may help them to achieve their growth aims.
• A more cohesive workforce – if people were identified as one of the routes to growth, then the outcome of the support may be to achieve a team that works more cohesively together to achieve the overall business aims.

Perhaps the biggest advantage to participants is that they will be working with experienced business people, ensuring the advice given is practical and not theory based.  They can bounce ideas off other business owners who have been in the same position, and benefit from a wealth of advice and experience to grow their own business. Further optional ongoing support through Smartboards ensures businesses stay on track and aren’t left with a plan they have no time or enthusiasm to execute.

To find out more information about BizSmart, please click here www.biz-smart.co.uk.