Entrepreneurs have spoken of their dismay on learning that key government services designed to boost business growth are being abolished.
The Business Growth Service (BGS), which includes the popular Manufacturing Advisory Service (MAS) and the Growth Accelerator programme, ended operations at the end of November 2015
The BGS’s remit included the Growth Accelerator programme, which provided coaching and match-funding services to businesses. Figures on the BGS website show that it has assisted more than 18,000 businesses, helped SMEs raise more than £100m in finance and has a 94% approval rating from businesses that have used the service.
Following the announcement, a statement from BIS said the closure of the BGS would save government £84m. It also said it was investing £12m per year into 39 local growth hubs that were led by Local Enterprise Partnerships.