MORE than £250,000 of funding is available to businesses wanting to make sure they measure up to their industry peers, according to the county’s impartial business advice agency.

Business Link Kent wants to get businesses to undertake a free confidential, corporate health check – presenting a saving of £500 on the normal cost of this service, and up to £5,000 match funding to help them achieve their dreams.

Independent research of more than 1,000 businesses indicates that those that act on advice typically have gross profits 98 per cent higher than their competitors who don't.

The aim is to raise business performance through an objective evaluation of the business against best industry practice and then assist in developing a strategic action plan for improvement.

Kim Fletcher, Business Link Kent’s customer adviser manager,said: "This will also challenge your assumptions and pre-conceptions.

"You may view high staff turnover – with all the accompanying costs of recruitment – as being the norm for your business sector. But what if it reveals that your staff turnover is well above average or your ability to find new customers is not as good as your competitors’?"

Information on key aspects of your business is matched against the performance of similar businesses in the country, sorted by size of business, industry sector or geographic location. The report compares your performance in key areas against similar businesses across the country and allows you to address any weak points.

Making practical sense of the information is a key part of the service. Your business adviser will help to draw up an action plan designed to spark a measurable improvement in performance.

It is sometimes the case that the improvement programme needed can be best addressed through using a consultant. When an approved consultant is used there is, in most instances, a subsidy available from the DTI, covering half the project costs to a maximum £5,000.

For more information, email info@businesslinkkent.com, phone 08457 225566 or visit www.businesslinkkent.com/benchmarking.