Clearview South February 2014 - Issue 147 | Page 75

BUSINESSNEWS

NEW GOVERNMENT
SUPPORT TO
ENCOURAGE
MANUFACTURING
PRODUCTION
BACK TO THE UK
UK Trade & Investment (UKTI) has joined
forces with the Manufacturing Advisory
Service (MAS) to launch Reshore UK, a
new 1-stop-shop service to help companies
bring production back to the UK.
UK companies are
increasingly looking to reshore
manufacturing, textiles,
software production and call
centre work to the UK instead
of outsourcing overseas.
This is due to the combination
of a strong and stable economy,
competitive corporate tax rates,
a good regulatory environment,
strong legal frameworks and a
dynamic labour market.
UKTI has identified 1,500
manufacturing jobs reshored in
the UK since 2011 and a MAS
survey shows companies citing
costs, quality and reducing lead
times as the top 3 reasons for
moving production back to the
UK.
Reshore UK will provide a
matching and location service,

access to advice and support
and a named individual to help
each company. MAS’s role is to
help support small and medium
sized businesses to be globally
competitive and to ensure there is
capacity in the UK supply chain
to take advantage of the reshoring
opportunities. UKTI will use its
global networks to attract foreign
companies to invest.
The new service will be
accessible for both UK and
international firms and will
ensure that they get the right
support, when they need it most.
It sees government working in
partnership with industry in
line with the Industrial Strategy,
giving business the confidence
to invest, creating more jobs and
growth in the UK.

UK SMES
ENCOURAGED TO
USE €3 BILLION
DEVELOPMENT POT
Up to €3 billion of product
development money has been
made available to UK SMEs
from January 1st 2014.
As part of the wider Horizon
2020 project, the Dedicated
SME Instrument will allow
companies to draw down up
to €3 million each.
Support organisation Pera
Technology says that the
European Commission is
obliged to respond to funding
applications within six
months.
Businesses must demonstrate
market demand to qualify
for the funding, and may
also claim up to 15 days free
coaching.
Paul Tranter, chief executive
of Pera Technology, said:
“Never before has this level of
funding been made available
to small and medium sized
business for new product
development purposes. “One
of the key differences between
Horizon 2020, its predecessors
and other public funding
options is its commercial

awareness. SMEs receive all
of the money to spend as
they see fit with a further 15
days of free coaching paid
for directly by the European
Commission.
“Only products that
demonstrate a clear commercial
demand will receive funding,
meaning it’s those products
closer to market that are likely
to be most successful. However,
for companies earlier on in the
development process there is
additional funding available for
initial research purposes.
“The UK is in an enviable
position, having overtaken
the two largest economies in
Europe in terms of bidding
success. However, we can’t
rest on our laurels. The larger
amount of funding and fewer
restrictions associated with
Horizon 2020 will see more
businesses than ever before
applying.”

Budget 2014: Have your say
Have your say on what you
would like to see in Budget
2014.

The government is seeking your
views on what you would like to
see in Budget 2014, which will
take place on 19 March 2014.

‘Business, charities
and members
of the public’

To read more, visit www.clearview-uk.com

In the interest