New funding announced to support small business growth

The Department for Business, Energy & Industrial Strategy (BEIS) has launched a fund designed to support the growth and development of small businesses. Andrew Griffiths, the Small Business Minister has announced today (Tuesday 26 June 2018) that the Business Basics Fund is designed to increase the evidence base on how to improve SME productivity that will help inform future policy approaches.

BEIS wish to fund participants to run experiments on how to increase diffusion of existing technology and better management practices in small and medium enterprises (SMEs). These technologies include five tried and tested technologies highlighted in the CBI’s Ostrich to Magpie report including, cloud-based computing and accountancy software. Click here to read the report.

There will be a requirement for measuring success or otherwise. The full details can be found here, but we would like to hear your ideas. The Small Business Charter propose to write a bid on behalf of a consortium of Charter-holding schools to provide an opportunity for schools to deliver and test a range of possible options.

We believe that BEIS would welcome such a bid as it would enable them to compare many different approaches from a quality consortium in the HE sector.

This is an exciting opportunity to showcase the wealth of expertise in SBC schools and reflects a recognition by BEIS of the importance of the SBC and the schools that hold it.

At this stage we do not have the full details of how we would need to bid, so we are asking for two things from you now:

1. That you confirm if you would like to be included in a consortium bid with the SBC schools, coordinated by the SBC.
2. That you start thinking about what it is you might like to try, or indeed report on.

Please confirm to by Tuesday 26 June 2018 if you wish to consider being part of an SBC-led consortium.