Boost for small business through new government investment in tech project trials
The Skills & Growth Company is one of 15 projects to win a share of £2 million from the first round of funding from the government’s Business Basics Fund.
The Business Basics Programme is designed to test innovative ways of encouraging small and medium sized enterprises to adopt existing technologies and management practices to improve their productivity.
The Skills & Growth Company “ADAPT – Adoption of Digital Automation Processes and Technology” project will receive £58,000 funding for a proof of concept to pilot the delivery of ‘Learning Journeys’; in partnership with Siemens and RedEye, to help SMEs in Cheshire benefit from their expertise in adopting digital technology to boost business productivity.
For more information on ADAPT see here
Small Business Minister Kelly Tolhurst said: ”Small businesses are the backbone of our economy and as part of our modern Industrial Strategy, we are supporting them with new investments to boost their productivity and ensure they can continue to thrive in the future.
“Today’s investment will support innovative projects that test how government and private sector companies can help small businesses adopt a range of technologies and management practices that save them time and make them more efficient.”
The Fund, which forms part of the government’s plan to boost UK national productivity through its modern Industrial Strategy, is delivered in partnership with Innovate UK and Nesta.
Research from the CBI suggests that by encouraging more businesses to take advantage of existing technologies, management practices and business support– such as cloud computing, mobile technology and e-purchasing – the UK economy could receive a £100 billion boost and see a 5% reduction in income inequality.
See more details on the Business Basics Funding here