Small Business Minister Andrew Griffiths has unveiled a new £8 million fund to boost the productivity and performance of small businesses in England.
The fund forms part of the government’s modern Industrial Strategy, which aims to build an environment that makes Britain the best place in the world to do business.
Small Business Minister Andrew Griffiths, commented, “Small businesses are the backbone of our economy, with more than 1,000 new businesses starting up every day, and it is vital that we support them to grow through our modern Industrial Strategy.
“The Business Basics Fund will test new and innovative ways of supporting small businesses to take advantage of technologies and management practices – giving small business leaders the tools and support they need to continue to thrive.”
Matthew Fell, CBI UK Chief Policy Director, added, “Put simply, UK businesses must do more to improve their productivity to get themselves match fit to compete globally in the years ahead. Low uptake of the nuts and bolts technologies of today is a key feature of the productivity puzzle that can, and must, be tackled.
“UK business technology adoption levels are close to the EU average but far behind the front runners, lagging nearly a decade behind the Danes.
The new Industrial Strategy can be the perfect vehicle to get to grips with this missing piece of the jigsaw.”
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