Number of business support schemes to be slashed - Embedded.com

Number of business support schemes to be slashed

LONDON — Following an announcement in the Budget, the number of schemes to provide support for business at a local, regional and national level are to be reduced from more than 3,000 to 100 by 2010. And the DTI says its has already streamlined its own business support products from 150 to eight.

The Business Link based Grant Support Director currently contains 2,874 listings of business support schemes and initiatives offered by central and local Government as well as private organisations.

The eight-business support schemes that the DTI offers are tailored to meet specific needs and include The Small Firms Loan Guarantee, which helps more than 6000 small firms every year to raise finance; the Knowledge Transfer Partnership, where more than 1300 partnerships have been established since its launch in 2003; and Collaborative Research and Development, which has invested more than £250million to support over 350 projects in emerging technology areas.

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