client selection process v4
DESCRIPTION
TRANSCRIPT
Business Creation: Starting a
High Growth Business
&
Business Expertise: Coaching for
High Growth
Oxford Innovation in Cornwall1
The following is an interactive guide to the businesses that the programmes are designed to assist and highlights some of the
characteristics that high growth businesses exhibit. It asks a series of questions that will lead to further questions, guidance or directs you to
undertake a course of action. It also seeks to provide assistance in understanding terms and concepts where these are used in this guide.
The Links logo will take you to website links for other organisations that may be able to offer further information, guidance and assistance to your
business. Where no specific instructions are given, click anywhere to move on.
Click the Help logo to be directed to contact details for the support team and press “Escape” on your keyboard to exit the guide at any time.
Guide Information
HelpLinks
2
The “Starting a High Growth Business” programme will focus
specialist expertise and support on Cornish start-ups that have the best
chances of success due to the intrinsic potential of the business idea
and the commitment of the entrepreneur .
Overview - Starting a High Growth Business
3
The “Coaching for High Growth” programme aims to support the
realisation of the potential of Cornish SMEs with high growth/high gross
value added characteristics through the provision of intensive coaching
and assistance.
Overview - Coaching for High Growth4
Is the business currently based in Cornwall or the Scilly Isles or are there plans to base the business there?
Yes
No
Not sure.
Question - Location
Back to Beginning
Let’s start at the beginning and go from there. Questions may be answered by clicking the appropriate box.
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These programmes are aimed specifically at businesses that are based or intend to base themselves in Cornwall or the Scilly Isles. If this does not apply to you, then we regret that we cannot help you directly.
However, there may be local or regional schemes that you can access and which may provide the assistance you seek. Further details of these may be available from your local:-
• Business Link• Regional Development Agency• District Council or Local Authority
Press “Escape” to exit guide.
Guidance – Geographic Scope
(Click on name for link to website.)
Help
6
Back to Beginning
1
Guidance – Cornwall Base
These programmes are aimed specifically at businesses based in Cornwall and the Scilly Isles.
If you have yet to decide where to base your business, the Region offers significant commercial opportunities to early stage businesses and a range of programmes aimed at supporting their growth.
Further information and news on the Region can be found by clicking on the links below.
If you are not going to base your business in the Region, please return to the previous page and click “no” for further information that may be of help to you.
BackHelp
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5
Question – SME Status
Are any of these statements true about the business?
• We currently employ over 250 staff• Our annual turnover exceeds €50m• Our balance sheet value is over €43m• 25% or more of our business is owned by a significantly larger company
Yes No Not sure.
Back to BeginningHelp
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1011
Guidance – SME Status
Both programmes are supported by an EU initiative which aims to assist the economic development of small and medium sized enterprises, or SMEs for short.
The official definition of a SME refers to its size in terms of the number of staff it employs, how much turnover it generates and by its value. Where these figures exceed certain levels, as stated in the question, a business is no longer considered to be a SME.
A business that is itself owned or partially owned (>25%) by a larger business would not be considered a SME under these guidelines
In both cases, your business would be precluded from receiving assistance through these programmes.
Further guidance and assistance on developing your business may be sought from your local Regional Development Agency.
Press “Escape” to exit guide. HelpLinksBack to
Beginning
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1
Guidance – SME Definition
The programmes are both aimed at small and medium sized enterprises – SMEs for short. The accepted EU definition of an SME relates its size to specific measures, as detailed in the question.
You may need to refer to your records to verify your status if unsure.
* Employment relates to full-time equivalents employed by the business and wholly owned subsidiaries, and this should be less than 250.
*Turnover relates to sales and other income generated by the business and wholly owned subsidiaries and this should be less than €50m per annum.
*The balance sheet value is as reported in annual accounts and should be no more than €43m.
BackHelp
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8
Question – Stage of Business
Do any of the following comments apply to the business?
1. The business has yet to be established.2. The business was established less than a year ago.3. The business has been established for at least 3 years.
Yes, number 1 Yes, number 2 Yes, number 3 No
Back to Beginning
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Help
Guidance – Programme Eligibility
Starting a High Growth Business is a programme that assists the development of start-up businesses by providing access to expert help and guidance.
A business is deemed a start-up from its establishment and for up to a year following that.
However, if a business that has been established for more than a year but has been actively trading for less, or has been established for less than three years and has spent more than 2/3rds of that time solely developing a product or service, without trading, then that business could be accepted onto the Starting a High Growth Business programme.
Coaching for High Growth is a separate programme aimed at providing owners and management executives with expert help and guidance once they have successfully negotiated the initial establishment of their business.
Next
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Guidance – Programme Eligibility
The Coaching for High Growth programme is aimed at businesses that have been established for at least 36 months. It is designed to provide bespoke coaching for executive teams in businesses that have overcome the initial start-up phase.
Businesses that do not meet the criteria for either programme may find advice and support available through other schemes and initiatives, details of which will be available from Business Links and Regional Development Agencies.
If you are not sure whether your business is eligible for these programmes, please contact the programme team via the Help button.
HelpLinks
13
Back to Beginning
1Press “Escape” to exit guide.
Is the business established as a Limited Company or is that the plan once the business is established?
Yes No Not sure
Question – Format of Business
Back to Beginning
Remember, questions may be answered by clicking the appropriate box.
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17 15 16
1
HelpPress “Escape” to exit guide.
There are a number of things that need to be considered before deciding which type of legal entity is best suited to particular circumstances. The programmes are aimed at limited companies unless there is a commercial reason why this format is not suitable.
A useful overview of these considerations is available from the Business Link website.
If a decision has been made to set up a Limited Company but the business has yet to start the process, you will need to complete and file a number of documents and forms with Companies House. Their website provides a lot of useful information and access to a number of guides.
Click the Links logo below to be directed to the relevant websites and the Help button for further guidance from the Support Team.
Back
Guidance – Business Format
HelpLinks
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14
Press “Escape” to exit guide.
Guidance – Business Formats
Businesses can be established and operated in a number of legally recognised structures or formats:-
•Self-employment
•Sole trader
•Partnership
•Limited liability partnership (LLP)
•Limited liability companies
•Franchises
•Social enterprises
Each of these is viewed differently by the various authorities, including HM Revenue and Customs. Click here for further information.
BackHelp
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14
Question – Sectors and Eligibility
Does the business currently operate or intend to operate in any one of the sectors below? If it does, or you think it might do, please click that sector for further guidance.
Agriculture
No
Synthetic Fibres
Shipbuilding Coal and Steel
RetailBanking and
InsuranceEducational
EstablishmentsRaw materials
for food
Child minding facilities/nurseries
Local leisure facilities
Hospitals or nursing homes
Back to BeginningHelp
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22 24 25 26
27 27 27 29
1
Guidance – Agriculture Businesses
Support for businesses operating within the Agricultural Sector is provided through other schemes and initiatives within the EU and is not covered within these programmes.
Agricultural businesses are those involved in the farming of livestock, and the production of fodder, arable, horticultural and industrial crops (energy, fibres and non-food).
Service providers to the sector may be eligible for support under the programmes where the main activity of the business does not encompass any of the above.
Further information on the availability of help and assistance for businesses involved in agriculture can be found from a number of sources.
BackHelpLinksPress “Escape” to exit guide.
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Guidance – Synthetic Fibres
Neither of the programmes provides support for businesses directly involved in the production of synthetic fibres and/or the manufacture of textiles and clothing from them.
Businesses that utilise man-made fibres to produce non-clothing products may be eligible if that business is not reliant on their own production of the underlying material. Equally, designers of clothing that utilise synthetic fibres amongst other materials may be able to receive free advice and support under the programmes. The value in the product, in these cases, should come from the design and the innovative use of the material rather than from the production of the synthetic fibre itself.
If you do currently operate in this sector, more help and guidance may be available from your local Business Link.
BackHelpLinksPress “Escape” to exit guide.
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17
Guidance – Shipbuilding, Coal and Steel
Shipbuilding has been specifically excluded from the remit of these programmes. This encompasses businesses whose primary activity is the manufacture of sea-going vessels aimed at industrial and commercial use such as trawler fishing, refrigeration and cargo transport, and those producing mass personnel transports such as ferries and cruise liners.
Boatbuilding, where this involves vessels designed mainly for leisure and personal use, may be eligible where the business concerned has developed or is going to develop its own range of products for its markets.
This could involve the concept of “original art” through advanced engineering, mechanical innovation or product design.
Next
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Guidance – Shipbuilding, Coal and Steel
Firms operating in the coal and steel sector are not provided for under either programme. This would include those involved in the mining of the raw materials, smelter operations, specialised transportation and the processing of the raw material into alternative forms.
Service providers to the shipbuilding, coal and steel sectors may be eligible for support under the programmes where the main activity of the business does not encompass those described.
Further assistance to those operating in these sectors may be available from other organisations available via the Links button.
BackHelpLinksPress “Escape” to exit guide.
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17
Guidance – Retail (1)
The exclusion under retail is mostly concerned with businesses that buy-in stock and sell this on at a mark-up, and those providing “high street” services.
This would include shop-owners, market traders and other retail outlet operators, as well as hairdressers, tanning salons, estate agents, travel agents, dry cleaners and opticians.
Neither of the programmes have been designed to provide direct assistance to these businesses.
If the business operates or establishes a retail operation to sell products that it manufactures, designs or builds itself, or where it adds value to a bought-in product through modification, enhancement or with the inclusion of an additional service offering, it may be able to receive assistance under these programmes.
Next
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Guidance – Retail (2)
The assessment of eligibility for online web-based retailers can be undertaken utilising similar criteria; those buying-in stock and selling-on without an added-value element most closely resemble traditional retail businesses and are not eligible for these programmes.
Where an online retailer is developing a portal or bringing together a group of suppliers or products not already available from one source, this may be eligible for the programmes, especially where the supporting enabling technology is innovative in either design or operation.
Further assistance to those operating in these sectors may be available from organisations available via the Links button and further guidance is available from the programme team via the Help button.
BackHelpLinksPress “Escape” to exit guide.
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17
Guidance – Banking and Insurance
Firms operating in the financial services sectors of banking and insurance are not eligible for either of the programmes.
In the main this ineligibility relates to those businesses directly developing, designing, marketing and selling banking or insurance products and to those businesses offering advisory services on them. These products would include cheque accounts, lending products, asset finance, savings accounts, life policies, pensions, mortgages, investments and general insurance policies.
Businesses that provide products and services that support these sectors are not specifically excluded from the programmes. A business that, for example, provides software aimed at the banking sector would be eligible as it is not directly delivering the products itself.
Further guidance is available from the programme team via the Help button,
BackHelpLinksPress “Escape” to exit guide.
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17
Guidance – Educational Establishments
Businesses directly involved in the operation of establishments providing generalised school age education fall outside the remit of both programmes. This exclusion may extend to colleges of further education where these are offering generalised education to a local or regional community.
Businesses that offer, or intend to offer, specialised activities involving technical education or vocational training, on a commercial basis, may be eligible and further guidance should be sought.
In most instances, a business that is owned, wholly or in part (25% or more), by a public sector organisation will not be eligible to receive assistance under the programmes.
Alternative assistance may be available from Local Education Authorities and via your local business link.
BackHelpLinks
25
Press “Escape” to exit guide.
17
Guidance – Raw Materials for Food
Businesses producing raw materials for the food sector are excluded from receiving support under both of these programmes.
The exclusions under this category would include agricultural producers of food crops, livestock farmers, fisheries and fishing, harvesters of naturally growing plants, herbs and wild fauna.
Firms that process raw materials into basic food ingredients may also be ineligible for this programme although further guidance should be sought. This may include, for example, mills turning grain into flour and processors of cane and beet into refined sugar.
Assistance to those operating in these sectors may be available from organisations available via the Links button.
BackHelpLinksPress “Escape” to exit guide.
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17
Guidance – Welfare and Leisure Services
Firms directly involved in the provision of local social welfare facilities are excluded from these programmes. The type of service or facility excluded would include operators and managers of nursing homes, fire stations, day nurseries, sports facilities, parks and public libraries.
Schemes and initiatives supporting businesses in this sector may be the subject of other policy objectives and more information may be available from local, regional or national agencies.
The exclusion relates to those operating or managing local facilities directly as a primary activity but does not exclude businesses that establish or have established these services as secondary to their main activity for, as an example, the benefit of their employees, customers or clients.
Next
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Guidance – Welfare and Leisure Services
Where a business has established or is planning to establish facilities that offer specialised services to a target client base that extends beyond the immediate geographic area, the exclusion may not apply.
For example, a private clinic that offers specialist treatment to a national or global patient base, on a commercial basis, may not be subject to this sector eligibility exclusion.
Where there is any doubt as to illegibility of a business operating within this sector, further guidance should be sought from the programme team via the Help button.
BackHelpLinks
28
Press “Escape” to exit guide.
17
Question – Growth Goals
Do you believe the business will generate income from sales and other activities of £0.5m or more per annum within 3 years?
No, the business will be viable at much lower turnover levels
The business may have that potential
Yes, that would be our minimum expectation
Back to Beginning
Not sure
The Starting a High Growth Business programme would seem to be the appropriate programme for your business but let’s just make sure.
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Guidance – Turnover Growth
The Starting a High Growth Business programme is aimed at businesses that who have high growth potential and who are either just about to embark upon their enterprise or who have been working at it for less than a year.
Defining what “high growth” start-up businesses are can be difficult but the guidelines available point to companies that have the ambition and potential to achieve turnover of at least £0.5m within three years.
Turnover is defined as income from sales and other associated activity but not generally from the sale of assets or the receipt of grants.
If the business is not forecasting this level of turnover growth it may still be possible for it to exhibit high growth potential and be eligible for this programme.
BackHelp
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Guidance – Turnover Expectations
The Starting a High Growth Business programme is specifically aimed at businesses that have “high growth” potential. The style and format of the support available from this programme is aimed to help these businesses achieve a minimum level of growth within a stated period, i.e. £0.5m turnover within three years or shortly thereafter.
Many businesses have the potential to successfully grow at a pace that does not match the stated turnover and timescales. In these cases, the optimum rate of development may dictate slower growth but which may, in the longer run, offer a more secure route to commercial success.
This type of growth is often referred to as “linear” or “organic” growth and support for this profile of business may be available through different programmes, schemes and initiatives, details of which can be found through your local Business Link.
HelpLinks Back
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Press “Escape” to exit guide.
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Question – Rate of Growth
Do you believe that the business needs to position itself now to take advantage of future opportunities that will enable it to achieve turnover of £0.5m or more per year?
Yes, but it may take significantly longer than 3 years to achieve this
Yes, that is our aim
Not sure
No, we may always fall short of that target
Back to BeginningHelp
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35
1
Guidance – Turnover Expectations
The Starting a High Growth Business programme is specifically aimed at businesses that have “high growth” potential. The style and format of the support available from this programme is aimed to help these businesses achieve a minimum level of growth within a stated period, i.e. £0.5m turnover within three years or shortly thereafter.
Many businesses have the potential to successfully grow at a pace that does not match the stated turnover and timescales. In these cases, the optimum rate of development may dictate slower growth but which may, in the longer run, offer a more secure route to commercial success.
This type of growth is often referred to as “linear” or “organic” growth and support for this profile of business may be available through different programmes, schemes and initiatives, details of which can be found through your local Business Link.
HelpBack to
BeginningPress “Escape” to exit guide. Links
33
1
Eligibility – Growth v High Growth
The Starting a High Growth Business programme is aimed at businesses who have high growth potential. Defining what “high growth” potential is can be difficult but the guidelines available point to companies that have the ambition and potential to achieve turnover of at least £0.5m within three years or shortly thereafter.
You have indicated that whilst your business might be able to achieve this, it may be successful, profitable and viable at lower turnover levels. Since the programme is designed to offer advice and support to achieve potentially faster and higher growth targets, the services and guidance available may not be appropriate for your business model.
Click the Help button below to be directed to a contact point at the support team who will be able to give you further guidance.
HelpBack to
BeginningPress “Escape” to exit guide. Links
34
1
Guidance – Turnover Growth
The Starting a High Growth Business programme is specifically aimed at businesses that have “high growth” potential. The style and format of the support available from this programme is aimed to help these businesses achieve a minimum level of growth within a stated period, e.g. £0.5m turnover within three years or shortly thereafter.
Turnover is defined as income from sales and other associated activity but not generally from the sale of assets or the receipt of grants.
Businesses can be very successful at significantly lower turnover levels and can create strong profit growth within a niche sector or by providing services to a defined geographic area. This programme is not specifically designed to support this type of business but help may be available from other initiatives details of which will be available from your local Business Link.
BackHelp
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Press “Escape” to exit guide. Links
Starting a High Growth Business
Based on your answers to the questions in this guide, the Starting a High Growth Business programme will be able to provide you with a range of free services that will help you to develop your business.
The programme is delivered by an experienced team of advisors who have expertise within specific market sectors and with all aspects of business management, from sales and marketing to finance and funding.
Each company in the programme will be assigned a relationship manager who will be the main contact for that business. The relationship manager will be able to call upon the skills and expertise of the full advisor team to help each business according to its individual needs.
An idea of the range of help and assistance available through this programme can be found by clicking the “more” link below or you can contact the programme support team and get involved straight away.
MoreBack to
BeginningHelp
36
Starting a High Growth Business
The programme provides an extensive range of free business support services to high growth potential Start-up businesses based in Cornwall and the Scilly Isles. These Include:-
• Business analysis to identify appropriate business model
• Business planning
• Identifying funding needs, appropriate products and introductions to potential providers
• Assistance with grant applications and R&D Tax Credits
• Identifying key potential customers/suppliers and facilitating introductions
• Identifying and developing management and leadership skills
• Helping to source key staff
• Management of Intellectual Property, patent and trademark protection
• Introductions to other business support providers and schemes
• Advice on the regulatory environment in which the business will operate
• Coaching and mentoring of owner/managers.BackHelp
37
“Coaching” Programme guide starts from Here
Is or will the business established as a Limited Company?
Yes No Not sure
Question – Format of Business
Back to Beginning
Remember, questions may be answered by clicking the appropriate box.
38
41 39 40
1
There are a number of things that need to be considered before deciding which type of legal entity is best suited to particular circumstances. The programmes are aimed at limited companies unless there is a commercial reason why this format is not suitable.
A useful overview of these considerations is available from the Business Link website.
If a decision has been made to set up a Limited Company but the business has yet to start the process, you will need to complete and file a number of documents and forms with Companies House. Their website provides a lot of useful information and access to a number of guides.
Click the Links logo below to be directed to the relevant websites and the Help button for further guidance from the Support Team.
Back
Guidance – Business Format
HelpLinks
39
38
Press “Escape” to exit guide.
Guidance – Business Formats
Businesses can be established and operated in a number of legally recognised structures or formats:-
•Self-employment
•Sole trader
•Partnership
•Limited liability partnership (LLP)
•Limited liability companies
•Franchises
•Social enterprises
Each of these is viewed differently by the various authorities, including HM Revenue and Customs. Click here for further information.
BackHelp
40
38
Question – Sectors and Eligibility
Does the business currently operate or intend to operate in any one of the sectors below? If it does, or you think it might do, please click that sector for further guidance or move on.
Agriculture
No
Synthetic Fibres
Shipbuilding Coal and Steel
RetailBanking and
InsuranceEducational
EstablishmentsRaw materials
for food
Child minding facilities/nurseries
Local leisure facilities
Hospitals or nursing homes
Back to BeginningHelp
41
42 44 45 45
47 49 50 51
52 52 52 54
1
Guidance – Agriculture Businesses
Support for businesses operating within the Agricultural Sector is provided through other schemes and initiatives within the EU and is not covered within these programmes.
Agricultural businesses are those involved in the farming of livestock, and the production of fodder, arable, horticultural and industrial crops (energy, fibres and non-food).
Service providers to the sector may be eligible for support under the programmes where the main activity of the business does not encompass any of the above.
Further information on the availability of help and assistance for businesses involved in agriculture can be found from a number of sources.
BackHelpLinksPress “Escape” to exit guide.
42
41
Guidance – Synthetic Fibres
Neither of the programmes provides support for businesses directly involved in the production of synthetic fibres and/or the manufacture of textiles and clothing from them.
Businesses that utilise man-made fibres to produce non-clothing products may be eligible if that business is not reliant on their own production of the underlying material. Equally, designers of clothing that utilise synthetic fibres amongst other materials may be able to receive free advice and support under the programmes. The value in the product, in these cases, should come from the design and the innovative use of the material rather than from the production of the synthetic fibre itself.
If you do currently operate in this sector, more help and guidance may be available from your local business link.
BackHelpLinksPress “Escape” to exit guide.
44
41
Guidance – Shipbuilding, Coal and Steel
Shipbuilding has been specifically excluded from the remit of these programmes. This encompasses businesses whose primary activity is the manufacture of sea-going vessels aimed at industrial and commercial use such as trawler fishing, refrigeration and cargo transport, and those producing mass personnel transports such as ferries and cruise liners.
Boatbuilding, where this involves vessels designed mainly for leisure and personal use, may be eligible where the business concerned has developed or is going to develop its own range of products for its markets. This would involve the concept of “original art”, innovative engineering or mechanical design and may give such businesses the high growth potential sought for by these programmes.
Next
45
46
Guidance – Shipbuilding, Coal and Steel
Firms operating in the coal and steel sector are not provided for under either programme. This would include those involved in the mining of the raw materials, smelter operations, specialised transportation and the processing of the raw material into alternative forms.
Service providers to the shipbuilding, coal and steel sectors may be eligible for support under the programmes where the main activity of the business does not encompass those described.
Further assistance to those operating in these sectors may be available from other organisations available via the Links button.
BackHelpLinksPress “Escape” to exit guide.
46
41
Guidance – Retail (1)
The exclusion under retail is mostly concerned with businesses that buy-in stock and sell this on at a mark-up, and those providing “high street” services.
This would include shop-owners, market traders and other retail outlet operators, as well as hairdressers, tanning salons, estate agents, travel agents, dry cleaners and opticians.
Neither of the programmes have been designed to provide direct assistance to these businesses.
If the business operates or establishes a retail operation to sell products that it manufactures, designs or builds itself, or where it adds value to a bought-in product through modification, enhancement or with the inclusion of an additional service offering, it may be able to receive assistance under these programmes.
Next
47
48
Guidance – Retail (2)
The assessment of eligibility for online web-based retailers can be undertaken utilising similar criteria; those buying-in stock and selling-on without an added-value element most closely resemble traditional retail businesses and are not eligible for these programmes.
Where an online retailer is developing a portal or bringing together a group of suppliers or products not already available from one source, this may be eligible for the programmes, especially where the supporting enabling technology is innovative in either design or operation.
Further assistance to those operating in these sectors may be available from organisations available via the Links button and further guidance is available from the programme team via the Help button.
BackHelpLinksPress “Escape” to exit guide.
48
41
Guidance – Banking and Insurance
Firms operating in the financial services sectors of banking and insurance are not eligible for either of the programmes.
In the main this ineligibility relates to those businesses directly developing, designing, marketing and selling banking or insurance products and to those businesses offering advisory services on them. These products would include cheque accounts, lending products, asset finance, savings accounts, life policies, pensions, mortgages and general insurance policies.
Businesses that provide products and services that support these sectors are not specifically excluded from the programmes. A business that, for example, provides software aimed at the banking sectors would be eligible as it is not directly delivering the prescribed products.
Further guidance is available from the programme team via the Help button,
BackHelpLinksPress “Escape” to exit guide.
49
41
Guidance – Educational Establishments
Businesses directly involved in the operation of establishments providing generalised school age education fall outside the remit of both programmes. This exclusion may extend to colleges of further education where these are offering generalised education to a local or regional community.
Businesses that offer, or intend to offer, specialised activities involving technical education or vocational training, on a commercial basis, may be eligible and further guidance should be sought.
In most instances, a business that is owned, wholly or in part (25% or more), by a public sector organisation will not be eligible to receive assistance under the programmes.
Alternative assistance may be available from Local Education Authorities and via your local business link.
BackHelpLinks
50
Press “Escape” to exit guide.
41
Guidance – Raw Materials for Food
Businesses producing raw materials for the food sector are excluded from receiving support under both of these programmes.
The exclusions under this category would include agricultural producers of food crops, livestock farmers, fisheries and fishing, harvesters of naturally growing plants, herbs and wild fauna.
Firms that process raw materials into basic food ingredients may also be ineligible for this programme although further guidance should be sought. This may include, for example, mills turning grain into flour and processors of cane and beet into refined sugar.
Assistance to those operating in these sectors may be available from organisations available via the Links button.
BackHelpLinksPress “Escape” to exit guide.
51
41
Guidance – Welfare and Leisure Services
Firms directly involved in the provision of local social welfare facilities are excluded from these programmes. The type of service or facility excluded would include operators and managers of nursing homes, fire stations, day nurseries, sports facilities, parks and public libraries.
Schemes and initiatives supporting businesses in this sector may be the subject of other policy objectives and more information may be available from local, regional or national agencies.
The exclusion relates to those operating or managing local facilities directly as a primary activity but does not exclude businesses that establish or have established these services as secondary to their main activity for, as an example, the benefit of their employees, customers or clients.
Next
52
53
Guidance – Welfare and Leisure Services
Where a business has established or is planning to establish facilities that offer specialised services to a target client base that extends beyond the immediate geographic area, the exclusion may not apply.
For example, a private clinic that offers specialist treatment to a national or global patient base, on a commercial basis, may not be subject to this sector eligibility exclusion.
Where there is any doubt as to illegibility of a business operating within this sector, further guidance should be sought from the programme team via the Help button.
BackHelpLinks
53
Press “Escape” to exit guide.
41
Question – Current Size
The Coaching for High Growth programme may be the appropriate programme for you but let’s just make sure.
The business has now been established for three years or more. Is your current turnover at least £250,000 per annum or close to it?
No
Yes
Not sure
54
Back to Beginning
1
Help
55
56
60
Guidance – Current Turnover
The Coaching for High Growth programme is aimed at businesses that have been established for at least three years and who have overcome the initial challenges of starting up a business.
The coaching support available through the programme has been designed to assist these companies achieve high growth targets over the next few years from an existing base. Measuring this base, or assessing high growth potential, can be difficult although a number of criteria are available.
The answers to the following set of questions will determine whether your business meets those criteria.
Turnover is income derived from sales and associated activities. It should not include receipts from grants or the sale of assets unless the latter is part of the trading profile of the business.
Back54
55
Question – Growth Plans
Do you believe that the business has the potential to increase turnover by at least 20% per annum for the next three years?
No, turnover growth will not follow that pattern
Yes, that would be our minimum expectation
Not sure
64
Back to Beginning
1
58
Help
56
57
Guide – Turnover Growth
Turnover - income from sales and other activity - is an established measure of a companies size, and the rate at which that increases, or is forecast to increase, is frequently used to define early stage businesses.
The Coaching for High Growth programme is designed to be of specific value to “high growth” businesses. Not all businesses display high growth characteristics but can still become successful and viable by achieving growth at a controlled rate.
The programme guidelines state that a business should either be capable of annual growth of at least 20% per annum for three years or cumulative growth of >70% during that period for this to be considered high. The latter measure allows for turnover to remain level whilst development plans are put in place but suggests that it should rise steeply once these take effect.
The support available through the programme is aimed at high growth companies and may not be appropriate for other businesses.
BackHelpLinks
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Question – Three Year Growth
If you do not believe that your turnover will increase by at least 20% per annum over 3 years, do you think it has the potential to increase by 70% in total over that period?
No, the business will be viable at a lower growth rate
The business may be able to achieve that
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Yes, that would be our minimum expectation
Not sure 59
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Guidance – High Growth
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The Coaching for High Growth programme is aimed at businesses that have been established for at least three years and which have “high growth” potential. Defining what “high growth” potential is can be difficult but the guidelines available point to companies that have the ambition and potential to increase existing turnover annually by at least 20% for three years or by 70% cumulatively over the same period.
You have indicated that you believe your business might be able to achieve this but that it may be successful, profitable and viable at lower levels. Since the programme is designed to offer advice and support to achieve potentially faster and higher growth targets, the services and guidance available may not be appropriate for your business model.
Please click the Help button below to be directed to a contact point at the support team who will be able to give you further guidance.
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Guidance – High Growth
The Coaching for High Growth programme is aimed at early stage businesses who have high growth potential. Defining what “high growth” potential is can be difficult but the guidelines available point to companies that have the ambition and potential to increase existing turnover annually by at least 20% for three years or by 70% cumulatively over the same period.
If you do not believe the business has the ability to grow at the suggested rates, the support available through the programme may not be suitable for your business.
Suitable support may however be available through alternative programmes and initiatives, details of which may be available from your local Business Link or enterprise support agency. Please click the Links button for further information.
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Question – Turnover per Employee60
Does the business have the potential to achieve average turnover per employee of at least £100,000?
No, the business will not have that profile
Yes, the business has that potential
Not sure
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Guidance – Growth Assessment
The Coaching for High Growth programme is aimed at businesses that have been established for at least three years and which have “high growth” potential. Defining what “high growth” potential is can be difficult but the guidelines available point to companies that have the ambition and potential to increase existing turnover annually by at least 20% for three years or by 70% cumulatively over the same period.
You have indicated that you believe your business might be able to achieve this but that it may be successful, profitable and viable at lower levels. Since the programme is designed to offer advice and support to achieve potentially faster and higher growth targets, the services and guidance available may not be appropriate for your business model.
Please click the Help button below to be directed to a contact point at the support team who will be able to give you further guidance.
HelpLinks
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Guidance – Turnover per Employee63
The Coaching for High Growth programme is aimed at businesses that have been established for at least three years and which have “high growth” potential. Defining what “high growth” potential is can be difficult but guidelines have been set and the coaching services available are aimed specifically at that profile of business
However, businesses that have the potential to create average turnover per employee of £100,000 and do not show a huge disparity between the highest paid employee and the average salary level, may have what is technically termed “high gross value add” or “high GVA”.
Businesses of this profile are deemed to have the same potential for high growth as those that meet other guidelines and are eligible for the free coaching support available through the programme.
If you are unsure, please contact the Support Team via the Help button for further guidance.
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Question – Coaching64
How many of the following does the business possess?
1. A committed and ambitious management team.2. Executives that have both personal and business goals.3. A management team that knows its strengths and weaknesses.4. Key personnel driving the business forward.5. A senior team that is willing to listen to new ideas.6. An awareness of the value of external experience and help.
All of them
Most of them
Very few of them
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Question – Management Team65
Is the business looking to strengthen its management team further and is this why it does not possess more of the features detailed?
That is the main reason
No, there are other reasons
Not sure
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Guidance – Management Objectives66
Based on your answers to the questions in this guide, the Coaching for High Growth programme may be able to provide you with a range of free services that will help you to further develop your business.
The programme is delivered by an experienced team of advisors who have expertise within specific market sectors and with all aspects of business management, from sales and marketing to finance and funding.
Whilst the coaching provided is very much “hands-on”, and designed to meet the specific needs of each individual business, it does rely on the participation of a committed management team and its desire to discover and achieve the full potential of that business.
If the support you are seeking is not of this type, the programme may not be suitable for your business and you should seek further guidance from the Support Team via the Help button.
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Guidance – Management Team
It is common for early stage businesses to possess incomplete management teams or have a need to recruit additional executive talent to meet their growing needs.
If you were unable to state that the business possessed some of the elements detailed it may be because you feel that the management team needs further strengthening. The Coaching for High Growth programme is designed to help businesses through this process.
If there are other reasons why you were unable to answer affirmatively to the majority of the points listed you may not be able to derive the maximum benefit from the type of support available through this programme.
In this case, please feel free to discuss your circumstances with the Support Team via the Help button.
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Coaching for High Growth
Based on your answers to the questions in this guide, the Coaching for High Growth programme will be able to provide you with a range of free services that will help you to further develop your business.
The programme is delivered by an experienced team of advisors who have expertise within specific market sectors and with all aspects of business management, from sales and marketing to finance and funding.
Each company in the programme will be assigned a relationship manager who will be the main contact for that business. The relationship manager will be able to call upon the skills and expertise of the full advisor team to help each business according to its individual needs and will be able to employ specific external expertise where that is required.
An idea of the range of help and assistance available through this programme can be found by clicking the “more” link below or you can contact the programme support team and get involved straight away.
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Coaching for High Growth
Each business will have unique requirements and the Coaching for High Growth programme is designed to be flexible enough to allow for this.
The programme team will be able to design customised coaching support relevant to the individual businesses needs and requirements rather than a one-size fits all process.
Areas where support may be available include:-
- Business planning
- Investigation of appropriate business models
- Access to Finance
- Investment readiness
- Market analysis
- Customer identification and introduction
- Grants and R&D tax credits
- Recruitment and human resources
- Management of Intellectual Property
- Exporting
- Regulatory environments
- Executive mentoring
- Value creation strategy
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Useful Links
The following logos, when clicked, provide links to the underlying organisations:-
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Contact Details – Support Team
If you have further questions, queries or concerns about either the Starting a High Growth Business or the Coaching for High Growth programmes, please contact the Support Team using the details below:-
Telephone - +44 (0)1736 763 4923
E-mail - [email protected]
Website - www.growcornwall.co.uk
Office hours are between 09.00 and 17.30 Monday to Friday. Messages can be left outside of these hours and a response will be received the next working day.
E-mails will be acknowledged within one working day and responded to fully within three working days.
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Contact Details – Support Team
To express your interest in either the Starting a High Growth Business or the Coaching for High Growth programme, please contact the Support Team using the details below:-
Telephone - +44 (0)1736 763 4923
E-mail - [email protected]
Website - www.growcornwall.co.uk
Office hours are between 09.00 and 17.30 Monday to Friday. Messages can be left outside of these hours and a response will be received the next working day.
E-mails will be acknowledged within one working day and responded to fully within three working days.
Press “Escape” to exit guide.Back to
Beginning
