Clearview National May 2015 - Issue 162 | Page 97

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