ENTREPRENEURS in the Solent can get a helping hand to grow their businesses through a new initiative.

GetSet Solent has been launched to provide support for firms in the region after similar schemes supported more than 1,000 companies elsewhere in the country.

It is part of the GetSet for Growth programme operated with funding from the Government’s Regional Growth Fund, with millions available through the fund and other avenues.

So far the scheme, which provides specialist marketing and finances advice to business owners, has provided support for firms in Bournemouth, Cornwall and East London.

Five new services have now been launched and the Solent is one of the areas which will benefit from the roll-out.

One of its key goals is helping businesses to access finance for growth.

The team behind the initiative say they currently have a 98 per cent success rate in other areas of the country, securing funding of more than £3m.

It comes after a survey for the Department of Business, Innovation and Skills found that although 73 per cent of small and medium sized enterprises aspiring for growth, only 28 per cent said they were confident about entering new markets, with half having difficulties in accessing finance.

Bev Hurley, chief executive of the YTKO Group which is delivering the project, said: “Since launching GetSet in 2013, the service has more than proven its success at helping businesses combat the two biggest barriers to growth – finding enough profitable customers and accessing finance.

“This latest investment from the Regional Growth Fund is further validation of this, and we’re delighted to be able extend our support to businesses in Solent.”

Businesses from all sectors will be eligible to apply for funding but will need to demonstrate an intention and potential to grow.

If they are accepted on to the scheme they will receive a package of support featuring classes and one-on-one expert advice designed to target challenges and increase skill sets.

Advice will be on offer from marketing and finance professionals, while the team will work with local partners such as Southampton City Council, the Solent Local Enterprise Partnership and Lloyds Banking Group.

GetSet Solent’s project director, Matt Giles said: “There are so many companies in Solent who have the potential to take their business to the next level, but need help getting there and the current support provision simply doesn’t cater to the vast majority of these businesses.

“It’s wonderful to be able to respond to this clear market with a unique programme of support that’s already proven its impact on more than 1,000 UK businesses.”