Government launches new fund for small businesses

The Business Basics Fund, run by BEIS in partnership with Innovate UK, will help businesses, charities, trade organisations and public sector companies support small businesses in adopting tried and tested technologies and management techniques.

Once the projects are launched, the government will then work with leading experts to evaluate the effectiveness of each project in boosting productivity, helping to inform future policies.

“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,” said Griffiths.

“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.”