Under the scheme, businesses that are eligible can now receive discounts of up to £5,000 off the retail price of approved Digital Accounting and CRM software from leading technology suppliers. This software will help them to effectively manage their finances and build customer relationships, ultimately levelling up the way businesses are run and helping them to scale up.
Businesses will also be able to access practical, specialised support and advice on how to choose the right digital technologies to boost their growth and productivity through a new online platform.
The Help to Grow: Digital scheme sits alongside the government's existing Help to Grow: Management scheme launched in 2021 as part of wider government efforts to back businesses and level up the economy.
Through the Help to Grow: Digital, the Government is providing business leaders with the advice and funding they need to embrace digital technology and help their business grow.
“Small and medium sized businesses are the backbone of our economy, creating jobs and prosperity across the UK," said Rishi Sunak, Chancellor of the Exchequer. “Help to Grow: Digital will help them to grow and flourish by adopting new technologies that are proven to improve processes and boost productivity, levelling up their digital technology and skills.”
Commenting Mike Cherry, National Chair at the Federation of Small Businesses, said, "Small businesses are often keen to embrace new technologies, but we know that one in four lack confidence in their own basic digital skills. For those small firms who are eligible, providing the means to make improvements through projects like this will make a real difference for those that are keen to expand their knowledge and skills.
“Our own research has shown that just 40% of small business owners have used applications like cloud services and online data storage or back-up. It’s crucial that practical changes like this scheme are put in place to help small firms adopt digital technologies, making improvements to their own business and driving growth.
“We’re encouraging as many eligible small firms to apply and make the most of this new scheme.”
To qualify for the financial discount through Help to Grow: Digital, businesses can be from any business sector, but must meet all four of the following criteria:
- Be a business based in the United Kingdom registered with Companies House or be a registered society on the Financial Conduct Authorities Mutuals Register.
- Be employing between 5 and 249 people.
- Have been actively trading for over 12 months, and have an incorporation date of, at least, 365 days prior to application.
- Be purchasing the approved software for the first time.
Eligible businesses will receive one financial discount towards the purchase of one approved software product up to a maximum of £5,000 (not including VAT) in Customer Relationship Management and Digital Accounting software product categories.
Additional software product categories will be available with the discount soon, including e-Commerce software.
The financial discount covers 12 months’ worth of approved software product core costs, exclusive of VAT.