If you’re looking to truly launch yourself as a small business and you’re looking much further than the usual promotional staples such as leaflets, posters and impressive websites, then the latest opportunity offered by the government’s Employment Ownership Pilot (EOP) fund may be exactly what you need.

The EOP is jointly funded by the Department for Education and Department for Business, Innovation and Skills, and was launched in November 2011 to give businesses the chance to design their own training schemes that aim to improve growth.

Funding bids must be matched by applicants and can be entered by companies or business consortiums who offer mutually-beneficial training packages, such as in-house skills and training workshops.

Businesses employing fewer than 250 people can enter with minimum bids of £250,000, though larger organisations with more than this can also apply – with minimum bids of £1 million. Those interested in this second round of funding must make their case known by March 11th, and file their application by March 28th.

Charlie Mayfield, chairman of the UK Commission for Employment and Skills, said: “Business leaders must think strategically about their personnel – equipping workforces with the skills they know are missing, or developing those areas which have the potential to support organisational growth.”