As an approved supplier for Business Link in Devon & Cornwall, we are always looking out for funding to help our clients – and here is the latest pot to be made available. It is the TRAIN TO GAIN (TTG) Leadership & Management Advisory Service (LMAS) funding that is aimed at BUSINESS OWNERS & DIRECTORS, which has been around for a while but usually only available to organisations with 10-249 employees. But in March 2010, a limited pot of funds will be made available to SMALL BUSINESSES with 1 – 9 employees. As it is limited, it is available on a first-come, first served basis.
The funding available is UP TO £1000 and consists of 2 parts:
- £500 grant that covers the cost of delivery of a training programme/event ie the business can claim up to £500 back
- £500 matched funding, where an equal amount of funding is matched against what the business pays for the training.
Therefore if the business claims the full amount, it means you can access £1,500 worth of training for the cost of £500. You have a wide choice for the type of training or development that is eligible for the funding, including accredited management qualifications, day courses, coaching & mentoring support etc. For example, you may want to know more about using Social Media or learn about what different aspects of Marketing would be right for your business. What is NOT covered is any mandatory/statutory training (such as Health and Safety), any technical training that you need to do your job (eg if you run a web development company, you could not claim for update training) or assessment costs for accreditation such as ISO or IiP.
Of course there will be some paperwork to do, but at PPG we usually are able to do this on your behalf – and the TTG support team will help you with the rest! Other considerations you will need to be aware of:
- The TTG funding ONLY covers the actual cost of delivery – it does not cover VAT or additional expenses such as subsidence and travel – these are payable by the business.
- To claim both/either the grant &/or the matched funding, you will have had to pay for the training before making your funding claim as you will need proof of payment, so you will need to pay out money first. However the funding claim process is pretty straightforward and TTG will try to get the funding back to you as soon as possible (typically a couple of weeks).
- You need to claim the funding claim within 90 days of the start date of any training and development as any claims after the 90 days cannot be guaranteed to be refunded.
Most importantly, this funding is only available during March 2010 with a limited number of applications available, so it will be provided on a first come, first served basis. Contact Us at PPG if you want to know more specific information regarding your own business and how we can help you access this pot of gold!