So, whether you’re a large, established business looking to become more profitable, or an early-stage business looking to grow in-line with your business plan, there are business support resources you could take advantage of up and down the country.
What’s important is to identify the business support resource that’s most suited to your business, depending on a range of different factors.
If you’re an established, 80-person business for example, some resources, like a Business Accelerator, may not be relevant for your business because they typically cater to start-ups and early-stage businesses.
But if your business falls into that ballpark, a Business Accelerator could be a good option to help you grow.
What is a Business Accelerator?
Business Accelerators support early-stage and start-up businesses through investment, short-term mentoring and training.
A Business Accelerator’s long-term goal is to help the businesses it supports grow and become profitable quickly, as well as make a return on its investment.
What training and support do Business Accelerators provide?
Business Accelerators all offer slightly different support and training opportunities however they tend to follow a similar format and structure.
Typically an Accelerator will provide access to things like a location or office for your business to use as a base throughout the programme, experienced mentors to aid its development – as well as exposure to their networks – alongside equity investment.
How much do Business Accelerators invest?
Similar to the training provided, the amount of equity investment pumped into programme participants depends on the individual Accelerator and the business in question.
As a result, the amount of investment can vary greatly. Seedcamp (SOURCE:
That’s why it’s advisable to do your research and, if you’re interested in applying to join a Business Accelerator programme, make sure that you’re comfortable with the amount of investment being offered and the equity share you’d be expected to part with.
How long do Business Accelerator programmes last?
Typically, Business Accelerator programmes last between three and six months but some look to support participants for up to 12 months. Again, it depends on the programme.
What services do Business Accelerator programmes offer to businesses?
There are lots of different services provided by Accelerator programmes. Alongside potential investment, possible exposure to investors and the use of co-working space, these services include:
- There are lots of different services provided by Accelerator programmes. Alongside potential investment, possible exposure to investors and the use of co-working space, these services include:
- Support from mentors, other programme participants and the wider network provided by the Accelerator – and this doesn’t have a hard stop at the end of the programme
- An opportunity to develop skills by working alongside businesses at a similar stage of development and under the guidance of experienced business professionals
- Exposure to potential customers and investors
- Intensive learning over a short period. Accelerators cram a lot of learning into a relatively short space of time, giving access to ideas and opportunities that could otherwise take years to learn
- While some businesses will thrive off the back of their involvement in an Accelerator, this isn’t the case for all programme participants. Whether it’s right for you depends on your business, your aims and the Accelerator you’re enrolling in.
What types of Business Accelerator programmes are available in the UK?
There are different types of Business Accelerators in the UK, ranging from privately run schemes to government funded programmes and corporate-backed schemes.
Most Accelerators – particularly privately-backed ones - accept all types of businesses, regardless of sector or region, however some of those on the market do specialise and focus on specific areas.
For example, there are Business Accelerators that only accept tech companies on to their programmes, while corporate-backed schemes may be more interested in businesses that benefit their broader corporate needs.
Likewise, government-backed schemes typically focus on businesses that help their broader policy aims do.
If you decide that a Business Accelerator suits your business, it’s important to do your research on the options that are out there to make sure you apply to a programme that’s right for your business.