Programme aims to help emerging companies prosper.

The government has launched a £200m scheme that is designed to directly benefit 26,000 companies in the UK.

The GrowthAccelerator programme, which was officially unveiled by business secretary Vince Cable at the end of last month, could create as many as 55,000 new jobs by supporting upcoming businesses.


Cable said the scheme is aimed at supporting emerging businesses to ensure that their route to growth is unimpeded by barriers.

Those who sign up for the scheme will also be offered a fast track to leading business advice providers such as UK Trade & Investment (UKTI) and networks like Angel Investors.

“With targeted support we are giving entrepreneurs a fantastic opportunity to take their businesses forward to succeed both here and abroad,” said Cable. “I look forward to seeing what this great programme helps them achieve in the future.”

A consortium of private sector bodies led by Grant Thornton will collaborate with the Department for Business, Innovation and Skills on the scheme.

Business and enterprise minister Mark Prisk said the government was putting in place a range of support products to help entrepreneurs in all fields realise their potential.

“As well as this ambitious and innovative programme, we are already creating a network of thousands of business mentors and will soon be launching a new £10 million start-up loans scheme to give young people access to business advice and a small amount of capital,” said Prisk.