Advice firms can save up to £5,000 on accounting and customer relationship management software through a government scheme called ‘Help to Grow: Digital’ which launched yesterday (January 20).
Companies a year old or more with between five and 249 people are eligible for the discount, which covers 12 months’ worth of approved software product core costs.
FTAdviser understands financial advisory firms which fulfil the eligibility criteria are able to access the discount, as there are no restrictions on firms applying from different sectors.
The government said softwares available under the scheme include various CRM systems, as well as digital accounting softwares Sage, Intuit and E-crunch.
Firms must also be based in the UK, and be purchasing the approved software for the first time.
The scheme is run by the Department for Business, Energy & Industrial Strategy, and is designed to support smaller businesses in adopting digital technologies which fuel their growth.
It comes with free online support through the government’s ‘Help to Grow’ website, which also features a 90 per cent government-funded 12-week management course costing businesses £750.
Chancellor Rishi Sunak said the scheme intends to help businesses become more innovative, competitive and profitable after years of pandemic woes.
“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,” he said.
According to the Federation of Small Businesses, 1 in 4 of small business owners lack confidence in their own basic digital skills, despite 40 per cent of them having used applications like cloud services and online data storage or back-up.
The government said it is looking to bring on further products that will help small and medium-sized businesses to grow, including e-commerce software.
ruby.hinchliffe@ft.com
