Britain is one of the best places in the world to start and grow a business, according to a government review. However, a productivity gap exists between the UK and international competitors, which means our businesses are not reaping all the benefits that they could be.
Adopting leading technologies, practices and support services - such as cloud computing, mobile technology and e-purchasing - can improve the productivity and earning power of small and medium-sized enterprises (SMEs), and in turn grow the wider economy.
The Department of Business, Energy and Industrial Strategy (BEIS) and Innovate UK have up to £2 million to prove and test ideas that enable small businesses to become more productive.
The Business Basics Fund
Investment is through the Business Basics Fund, part of the government’s Business Basics Programme to encourage SMEs to implement proven technologies and practices.
There are different competitions to apply into, depending on your organisation and the type of research and development being carried out. These are for:
- proof of concept projects
- trials that are either:
- led by a business
- led by another type of organisation that isn’t a business
Projects across all opportunities should look at how SMEs can become more productive through one or more of the following:
- adopting tried-and tested technologies, such as accountancy, CRM, HR and payment systems
- adopting modern business practices
- improving the use of technologies and practices already active within the business
For more information and how to apply, click here.