York, North Yorkshire and East Riding LEP to pilot new Certificate of Business Growth

16 January 2012

Everybody wishing to start a legitimate business visits a bank to arrange account facilities. If funding is required banks are reluctant to lend unless applicants have a good understanding of the proposed business and a credible business plan is presented. The Certificate of Business Growth (CBG) is designed to address both these issues. It is intended to be promoted by all major high street banks within their branch network. York, North Yorkshire and East Riding LEP is now in discussion with the British Bankers Association and they are also encouraging as it fits with their Better Business Taskforce plans Senior regional bankers in Yorkshire have been very positive because it reduces risk; will improve business sustainability and assist in reaching lending targets.. They are jointly considering the most appropriate accreditation body and also how to make it clear that the CBG will not be interpreted as a guarantee of lending.

The CBG will be a series of online, focussed modules based around the preparation of a business plan. The Certificate will only be awarded on successful completion of the modules and an online assessment. The programme will be suitable for retail, service or manufacturing businesses. It will not duplicate but will provide links to existing sites such as HMRC and HSE. Course content is being monitored by a focus group of successful 2-4 year old businesses. The LEP proposes to run a short pilot in the York, North Yorkshire and East Riding area and iron out any glitches.

LEP involvement is essential as the local convenor between banks and colleges, the CBG will provide a route to market for mentoring initiatives without the need for the large marketing budget deployed by Business Link. It will also provide colleges with greater penetration into the local business community.

York ,North Yorkshire and East Riding LEP is calling for expressions of interest from LEP Chairs around the network. For more information on the CBG, please contact Barry Dodd, Chair, York, North Yorkshire and East Riding LEP (Julie.Chandler@ynypu.org.uk, 07977 260993).

Tags: Growth, Investment, Good Practice, Strategy, Funding, Finance

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