In the opening months of the year, 27 companies were accepted by the HighGrowth East Midlands programme, which aims to show enterprises how to sustain their expansion.

Under the scheme, growing firms undertake 18 days of intensive coaching spread over a year, including specialist support such as three-day residential courses in business management.

The regional development agency claims that the support offered through the initiative will allow companies to increase their profits, boost their competitive edge and become better placed for the eventual economic upswing.

Michael Carr, the EMDA’s executive director of business services, comments: ‘I am delighted that we have been able to recruit another class of ambitious businesses for this year’s HighGrowth programme.’

Last month, the agency revealed that an extra £1.4 million has been allocated to its Grants for Business Investment programme, which supports companies looking to grow, modernise or diversify.