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Growth Guarantee Scheme for Pharmacies - Apply Now

The Growth Guarantee Scheme for Pharmacies is a plan designed to help pharmacies grow steadily by providing financial support or incentives. It’s a way to make sure pharmacies can keep improving and serving their communities. If you want to learn more or see if your pharmacy qualifies, it’s worth checking out the details!

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What are the benefits of Growth Guarantee Scheme for Pharmacies?

The Growth Guarantee Scheme for Pharmacies is designed to support and stabilize the financial health of community pharmacies. By providing a structured framework that guarantees certain growth metrics, the scheme helps pharmacies navigate market fluctuations, improve their service offerings, and enhance patient access to essential medications. This initiative ultimately fosters a more resilient healthcare environment.
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Increased pharmacy revenue
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Enhanced customer trust
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Promotes medication accessibility

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What are the different types of Growth Guarantee Scheme for Pharmacies?

Income Support Payments

Guaranteed minimum monthly payments to pharmacies.

Income Support Payments

Income support ensures that community pharmacies receive a guaranteed minimum monthly payment, stabilising their income and allowing them to plan services confidently during periods of fluctuating prescription volumes.

Service Delivery Incentives

Bonuses for delivering specific pharmacy services.

Service Delivery Incentives

Schemes may offer extra payments for providing essential or advanced services, such as vaccinations or health checks, encouraging pharmacies to expand their service offerings and meet public health needs.

Transition Support Grants

Temporary financial aid during scheme changes.

Transition Support Grants

Transition grants help pharmacies adjust to new funding models or policy shifts, ensuring continuity of care while allowing time for operational or business adaptations to the evolving pharmacy contract.

What is the Growth Guarantee Scheme for Pharmacies?

Government-Backed Financial Support for Pharmacies

The Growth Guarantee Scheme offers government-backed loans and financial support to small and medium-sized businesses, which can include pharmacies. It is designed to help these businesses access funding for growth and operational needs, with a government guarantee covering a significant portion of the lender’s risk.

Eligibility and Terms

To qualify, businesses—including pharmacies—must have a turnover less than £45 million, be UK-based, and show viability. The scheme offers loans of up to £2 million, and lenders consider eligibility individually. There are a few sector exclusions, but pharmacies are not excluded.

Aims to Support Stability and Growth

The scheme is intended to support the financial stability and growth of participating businesses by ensuring access to working capital, supporting new investments, and enabling pharmacies to navigate economic challenges.

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FAQ’S

Is the Growth Guarantee Scheme available to UK pharmacy businesses?
What finance options can pharmacies access through the Growth Guarantee Scheme?
Are pharmacies fully liable for Growth Guarantee Scheme loans?
What purposes can pharmacies use Growth Guarantee Scheme funds for?

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