The Governments Campaign; ‘Building Britain’s Future’ Takes Shape with Investments in Technology and Advanced Manufacturing

17 08 2009

Lord Mandelson, Secretary of State for Business, Innovation and Skills has announced a £3million investment in UK technology firms, as well as a £340million investment in the development of a new Airbus.

The investments form part of the Governments strategy ‘Building Britain’s Future,’ which includes the launch of several funds including the Capital for Enterprise Fund and the Strategic Investment fund, which is aimed at increasing Advanced Manufacturing, to keep the UK ahead of the competition.

The £75milion Capital for Enterprise fund was launched in January, to help growing companies’ access finance. The fund includes £50 million from the government, as well as £30 million from UK banks, which is managed by Octopus Investments.

The £3million investment includes £1million to IT systems business Vamosa, as well as £2million to KeTech, who provide communication software to rail companies, as well as the emergency services and construction businesses.

KeTech’s CEO, John Kearney, explains that he wrote to Lord Mandelson after having difficulty securing finance;

“Since the current economic crisis began, the lack of available credit, even to viable businesses such as KeTech, has significantly impaired our ability to keep growing. As a result, we turned to the Government for help.

“I am therefore delighted that the Octopus Capital for Enterprise Fund is injecting much-needed capital into KeTech. This will play a critical role in enabling us to secure profitable new contracts which regrettably, until now, we have been forced to turn away.”

The £340million investment for Airbus will aid the development of the new A350 XWB and ensure that Britain retains its position as a world leader in wing, landing gear and fuel integration systems technologies

The investment which is drawn partially from the Governments £750million strategic investment fund, will also secure more than 1,200 jobs within Airbus across Filton and Broughton sites as well over 5,000 within the supply chain across the UK.

Business Secretary Lord Mandelson said;

“This agreement is excellent news for the UK aerospace sector and for the thousands of British workers within Airbus and its UK-based supply chain”.

“The UK’s aerospace industry is world-class and capable of competing successfully with companies across the world. We recognise the vital role Airbus, and its supply chain, play in the UK.

“Aerospace is a sector that we are rightly proud of in the UK. It stimulates innovation across industry, demonstrates our capability to work with the most advanced technologies, and provides high-quality, highly skilled employment. It is a sector at the heart of our advanced manufacturing strategy.”

Click here to read more about the Government’s campaign ‘Building Britain’s Future.’


Business start-ups continue to grow

16 11 2007

Despite the concerns expressed in recent research by the ESCP-EAP European School of Management and the University of Sheffield, the official data confirms that new business start-ups continue to be established faster than existing companies wither and die, indicating that the fertile conditions enjoyed by enterprise since the mid-1990s are still in place.  The estimates of the number of enterprises registering and de-registering for VAT in 2006 were published this week by the Department for Business, Enterprise and Regulatory Reform (BERR).  These figures are regarded as one of the key measures of business activity, and the number of start-ups has now risen every year for the past 12 years, with 21% more VAT-registered businesses in the UK than in 1995.

The data were published as start-up activity was being celebrated across the UK under the banner of Enterprise Week. Business groups welcomed the increase in business start-ups but warned that the credit squeeze, combined with the government’s proposals to raise capital gains tax and scrap taper relief, risked undermining the entrepreneurial spirit.

“Despite the increasing number of hurdles and burdens being placed in front of entrepreneurs, the attraction of private enterprise is still strong,” said David Frost, director-general of the British Chambers of Commerce.

Women’s Enterprise Day

14 11 2007

Today is Women’s Enterprise Day, with numerous events taking place across the country and with the involvement some of the country’s leading businesswomen including Gita Patel, Martha Lane-Fox and Apprentice star Saira Khan. These events taking place are being held in conjunction with Enterprise Week, which runs from the 12th-18th of November, and aim to inspire young women into embracing enterprise culture.

NCGE Flying Start are offering women, who are current students or are within ten years of graduation, the opportunity to participate in the first national programme designed specifically for women.  The closing date for applications is 21st November.

PM launches Global Entrepreneurship Week 2008

13 11 2007

British Prime Minister Gordon Brown joined Carl Schramm of the Kauffman Foundation today in starting the countdown to Global Entrepreneurship Week 2008, the world’s biggest single event celebrating and promoting entrepreneurship amongst young people.  The announcement was made at the Global Enterprise Workshop in London attended by leading business figures and entrepreneurs from around the globe.  Twenty-six countries were represented at the Workshop, which covered coalition building, obtaining sponsorship, social media, and, most importantly, how to reach out to young people and help them to turn their ideas into reality.

Global Entrepreneurship Week 2008 has been founded by Make Your Mark, the business-led, government-backed campaign to create an enterprise culture in the UK, and the US-based Kauffman Foundation, the world’s pre-eminent Foundation dedicated to promoting entrepreneurship.

Minister launches report on Enterprise & Entrepreneurship in HE

12 11 2007

On Monday 12 November, The Rt. Hon. John Hutton MP, Secretary of State for Business, Enterprise and Regulatory Reform announced the publication of NCGE‘s report, Enterprise and Entrepreneurship in Higher Education.  This report disseminates the results of the NCGE’s 2007 survey work and concludes that universities in England must do more to nurture the next generation of entrepreneurs by adopting a wider view of entrepreneurship and embedding a culture of enterprise and entrepreneurship that engages students right across the campus.

Enterprise and Entrepreneurship in Higher Education is the largest survey ever conducted of enterprise and entrepreneurship activity and provision in Higher Education in England and included 122 universities serving a student population of around 1.75 million. The report maps the scale and scope of provision, engagement and climate for enterprise and entrepreneurship education in the sector.  The tables from the report present key findings at both national and regional level.