BUSINESSNEWS
£1.5 million funding
for small business
productivity
Construction companies could be
among the firms to benefit from a
new £1.5 million fund set up to help
small businesses boost productivity.
»»The scheme is to
help Britain compete with other
nations by improving leadership
and entrepreneurial skills in
smaller organisations.
It is all part of the UK
Futures Programme which is
run by the UK Commission
for Employment and Skills
(UKCES).
And economic observers
say this is bringing down UK
competitiveness, earnings and
the ability to generate higher
growth.
So-called “anchor institutions”
will be able to bid for a share
of the UKCES money if they
are based in areas where
productivity is flagging and can
prove they have innovative ideas
about how to lift productivity.
Anchor institutions are
classed as organisations with
a strong local presence that
make a key contribution to
the local economy and include
universities, banks and local
enterprise networks.
Focus on
small firms
Training needs
Julie Kenny, founder of
Pyronix Ltd, a leading small
business in the security sector,
and Commissioner at the UK
Commission for Employment
and Skills (UKCES), said: “Small
businesses are the backbone
of our economy, but current
figures indicate that only a
third of small firms provide any
management training, compared
to nearly three-quarters of
larger firms.”
According to the latest
governme