More than 40 companies are celebrating after being accepted onto the East Midlands Development Agency’s (emda’s) new flagship business support scheme for firms poised for growth.

The businesses are taking part in Growth Readiness, a project run through emda’s HighGrowth East Midlands programme. The £3.7m programme is aimed at helping ambitious and forward thinking businesses achieve their full potential through a package of world-class support, advice and coaching.

The programme is designed to increase profits, enhance competitiveness, raise business profiles and create the conditions for long-term success.

Representatives of the companies on the programme had the opportunity to get together at their first networking event at the National Space Centre in Leicester where they enjoyed an inaugural dinner.

It is part of emda’s long-term strategy to stimulate high-quality innovation and accelerate regional economic growth and Mike Carr, the Agency’s Executive Director of Business Services is encouraging more regional businesses to consider applying for the programme.

Speaking at the event, Mike said: "The HighGrowth Programme is proving to be extremely popular, due to the high quality support and coaching that is provided by the coaches working with the businesses.

“emda’s goal is to create an affluent and flourishing region that competes with the world's best, by developing prosperous and sustainable businesses and the HighGrowth Programme is playing an important role in achieving this vision. We already have 40 businesses on the programme which will undoubtedly benefit from being on the programme, but we would like to hear from others that are also ready to grow.”

Those taking part in Growth Readiness will also enjoy an elite network of like-minded companies with access to a variety of business support activities.

The companies chosen are all on the brink of expansion, and will be given a six-month package of support under the Growth Readiness programme, which will include:

• An initial diagnosis of development potential
• A one-day coaching module covering business and strategic planning
• Five days of individual coaching, focusing on the major barriers to growth identified in the initial diagnosis.

Companies participating include businesses ranging from manufacturers, accountants and marketing specialists, to service industries such as hair and beauty, and multimedia.

A pilot scheme for the high growth element of the programme, aimed at companies already achieving significant levels of growth, ran successfully during 2006 when 20 participating firms saw profits rise and sales grow significantly. 

One of the companies that has been accepted onto the new programme is the recruitment consultancy, Europe Solutions Ltd. Managing Director, Marc Van Ling believes that it will help his business to achieve its growth objectives: “As we’ve expanded, the planning, systems and procedures we need have been pushed to one side as we’ve been so busy placing people in businesses. 

"We are hoping the Growth Readiness programme will allow us time to look objectively at the business and see how and where we are going in the future and how we are going to get there!”

Businesses that are interested in applying for the 2008 Growth Readiness programme should visit www.hgeastmidlands.com for further details.