The long awaited new Coaching for Growth programme led by the Coaching for Growth Consortium prepares to go live.
The new programme will provide dedicated and structured coaching support for up to 10,000 high growth potential businesses a year starting in March 2012.
The new programme will provide small and mid-sized businesses with coaches who will work with senior management teams to help them develop and deliver strategies to achieve their growth potential. It is part of the UK Government’s drive to help small and mid-sized businesses improve their leadership, gain access to finance and increase export and innovation performance. In a rare piece of joined up thinking, the programme will also connect businesses to other relevant forms of support such as business angel networks, UK Trade and Investment (UKTI) or the Manufacturing Advisory Service (MAS).
Business and Enterprise Minister Mark Prisk said:
“Providing intensive and quality coaching for high growth potential businesses is vital to their continued success and their ability to help the UK economy grow. This programme is the latest step the Government is taking to ensure small and mid-sized businesses are well equipped to thrive here and abroad”.
The Coaching for Growth Consortium is led by Grant Thornton and comprises Winning Pitch, Oxford Innovation, Pera and seven other local delivery partners. The programme will complement the existing mentoring scheme, Mentorsme, but differs by focusing only on high growth potential businesses and by placing the emphasis on coaching executive teams to address business issues and growth.
Business Coaching for Growth is expected to be fully operational across England by March 2012 and from 1 April the Leadership and Management Advisory Service (LMAS) will also be delivered as part of Business Coaching for Growth. The new programme website explains that Business Coaching for Growth is designed for expanding, independent businesses currently trading in England. Businesses can be start-up, micro-businesses with fewer than ten staff, or established businesses of up to 250 staff and must have potential and ambition to achieve a year on year business growth of at least 20% (www.businessgrowth.uk.com).
Businesses will use an assessment tool called GROWTHmapper® to identify any potential barriers to high growth rates in the business and will then develop and implement plans to eliminate the obstacles to growth. Each member of the company’s senior management team is required to answer an online questionnaire that probes the key issues facing high growth businesses. Once analysed the results are used by the Coach to facilitate the development of an agreed plan of action.
Exponential Training Managing Director, John Moore said:
“Many of the topics covered by the tool match closely with the different elements making up the High Growth Coach Competency Framework developed by the project team responsible for the European High Growth Coach project. I know many of the 300+ High Growth Coaches developed and supported by my team over the past three years will be involved in delivering coaching as part of the new programme and we wish them lots of success”.
The High Growth Coach Project which continues until later this year, has seen the development of a complete set of development resources for High Growth Coaches covering business acumen, the professional skills, behaviours and fundamental coaching skills. It is expected that the High Growth Coach will lead on to the development of a pan-European High Growth Coaching Network and to this end discussions are already under way with partner organisations in numerous European countries. Two great ways for people to stay in touch with what is happening over the next few months is to join the High Growth Coach Development Group on LinkedIn or to receive Exponential Training’s monthly management development e-newsletter, ‘In the Loop’, click here.