Convergence Investments

Printable version

1.6.2010

Broader Deeper IDB Growth (interim) Service for Cornwall & Isles of Scilly 2010 -2011 (Serco Regional Services)

The project is for 10 months (1 June 2010 – 31 March 2011) and provides continuity of the Deeper Broader IDB contract for Cornwall and the Isles of Scilly which comes to an end on 31 May 2010 following an extension to utilise existing under spend.

The current Deeper Broader IDB contract, which incorporates both the Deeper Broader IDB project (Growth) and IYRE (Revenue) has supported over 730 businesses and, of these, over 600 businesses have received intensive assistance.  This latest application reports that the current project has brokered/referred to 660 public sector support providers, of which 509 have been to Solutions for Business products.  In addition the project has brokered 736 businesses to private sector support.

The continuation of the service takes the form of 3 interlinked, but separate proposals:

• The continuation of the Deeper Broader IDB (Growth) project
• The continuation of Improving Your Resource Efficiency (IYRE Revenue) project and
• Improving Your Resource Efficiency (IYRE Capital Grants) – a new proposal and not part of the current Deeper, Broader IDB contract

This investment is for the Deeper Broader IDB (Growth) project only. It should be noted that this is an interim solution proposal, while a wider review of business support under Convergence Priority Axis 2 is undertaken to establish the scale and any changes to scope needed for the remainder of the Programme.

 

This interim 10 month project provides information, diagnosis and brokerage to new and existing businesses with high growth potential in Cornwall and the Isles of Scilly.

The aim of the project is to support 330 businesses (including 200 businesses intensively assisted) in order to increase productivity and growth through the deployment of dedicated business advisers in order to bring about improved performance at identified key stages in the business growth cycle (start up, VAT registration, business acquisitions and mergers, new products and processes, new markets and responding to changes in the economic environment).

The service offer is significantly different from the Business Link Core Contract by providing “forced” support through longer, more in-depth business interventions as well as dedicated promotional work designed to attract growth focussed companies.  The service also aims to foster closer working links with partner organisations and professional bodies in a move to improve company aspirations across the Convergence Programme area.

A regional procurement framework will be used to draw down specialist resources for the delivery of Social Enterprise IDB support. This framework includes specialist marketing, advisors, events and workshops. Support will also be offered through the development voucher scheme focused on improving business operations.

The service will procure specialist knowledge and information from organisations such as the National Physical Laboratory and local sector groups to help businesses overcome technical problems in order to speed up commercialisation of new products and services. 

In parallel with this support, assistance will be provided to SMEs in the form of a development voucher, which can be used as a contribution to purchase the most appropriate high quality support from either the private or public sectors. This will operate on a points scoring system in order to determine the financial value of the voucher and provide both transparency and consistency in delivery. To be eligible for a development voucher the business must have an agreed action plan in place and will be subject to credit rating checks.  The voucher support will be offered in respect of the following areas:

• Accessing new markets
• Preparing to obtain finance for business development
• Feasibility studies
• Development of business, strategic or marketing plans, including market research
• Consultancy to assist with the implementation of a growth project for up to 12 months
• Using ICT to drive performance efficiencies
• Advice on legal, tax or other issues relating to a new business structure
• Advice building successful management teams
• Links to universities/higher education
• Development of intellectual property, protection and commercialisation
• Financial planning
• Innovation, technology and design
• Quality assurance
• Development of prototype design and testing
• Specialist support to develop and write bids for public sector contracts

All businesses supported through the project will work with a Small Firms Enterprise Development Initiative (SFEDI) accredited Business Advisor in preparing a business review document to identify knowledge gaps and key actions to enable each business to grow. Where necessary knowledge will be procured or brokered to appropriate Business Solution providers, particularly:

• UK Trade & Investment (UKTI) complementing both Core & ERDF services
• ‘Starting a High Growth Business’ and ‘Coaching for High Growth’ products
• Coaching for High GrowthAccess to Finance Solutions for Businesses products, South West Angel and Investor Network (SWAIN) & venture capital funds.
• Skills support from Train to Gain and the Leadership and Management service.

All client support functions will be underpinned by the use of Net Output Reporting by allowing all partners to have access to the main Business Link Customer Relationship Management System (CRM) to gather data on all ERDF funded business interventions - the system enables partners to accurately record and “count” the business support that each individual business receives.  It will also provide a client matching service in order to identify the most appropriate business support partner in respect of any brokerage support.

For further information

Broader Deeper IDB
Serco