14 news The categories Last call for entries


This is the last chance for nominations for the Thames Valley Deals Awards – with the closing date for entries set for February 26


For the 2016 contest, nominations can be made online through a new entry system at www.dealsawards.co.uk


The qualifying period for entries is January 2015 to February 28, 2016. Which transaction will be the Deal of the Year in the 2016 competition?


The awards dinner is at Madejski Stadium, Reading, on April 21.


To book your table for the 2016 event, email Linda Morse at: linda@elcot.co.uk


A table of 10 costs £1,500 and individual seats cost £160 ex VAT. sponsors


Deal of the Year – sponsored by UBS Dealmaker of the Year – sponsored by Pitmans Corporate Finance Team Corporate Finance Adviser – sponsored by HSBC Bank of the Year – sponsored by BCMS Law Firm of the Year – sponsored by Grant Thornton


Lawyer of the Year – sponsored by Taylor Made Computer Solutions


Private Equity Firm – sponsored by HMT Management Team – sponsored by PwC Alternative Lender – sponsored by Wilson Partners Due Diligence Team


www.dealsawards.co.uk


Business Growth Service support axed by chancellor


One Autumn Spending Review announcement that appears to have ‘slipped under the radar’ and will come into effect next month, is the winding down of support from the Government’s Business Growth Service (BGS).


On November 26, the Department for Business, Innovation and Skills (BIS) instructed BGS to honour its contractual commitments, but stop making any further commitments beyond November 30. BGS support activities will effectively cease by March 31, 2016.


BGS funding underpinned the operations of GrowthAccelerator and the Manufacturing Advisory Service, which both provided national access to specialist business management guidance, coaching, and funding advice for UK businesses.


News of the BGS wind down, and loss www.businessmag.co.uk


of the GrowthAccelerator and MAS support, was described as “sudden and disappointing” by Ed Cooper of business growth specialist VitalSix which delivers the Thames Valley Berkshire Business Growth Hub for our Local Enterprise Partnership, supported by the Government’s Local Growth Fund.


He felt, the BGS wind-down, effectively reducing the avenues for business growth support, could hit small businesses, which are often less able to afford business advice and practical support from private sector providers.


However, Cooper assured aspiring local businesses that support from the well- established Thames Valley Berkshire Business Growth Hub would continue as usual. And he noted that the Autumn Statement confirmed the Government’s commitment to provide £12 million in


2015-16 and £12m 2016-17 to support Growth Hubs around the country becoming fully sustainable. The detail on how these funds will be distributed or competed for has yet to be finalised by the Government.


The Local Growth Fund puts money under direct control of business-led Local Enterprise Partnerships, while empowering local communities to deliver growth by allowing them to respond flexibly to specific opportunities in their area.


“It appears that any government support and funding will now be re-channelled directly through the existing Business Growth Hubs, set up largely by LEPs throughout the country,” explained Cooper.


In practice, the Berkshire Growth Hub is likely to become the primary Thames Valley vehicle for delivery of advice, support and training for company leaders, management teams and ambitious small businesses aiming to improve and establish their profitable growth.


THE BUSINESS MAGAZINE – THAMES VALLEY – FEBRUARY 2016


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