PM's adviser awards business schools for pioneering work
5 Jun 2014 03:45 PM
Enterprise Adviser Lord
Young presented 20 pioneering business schools with the first ever awards for
playing a vital role in helping to boost their local
economy.
The business schools were
recognised at the Small Business Charter (SBC) awards ceremony in Downing
Street, where Lord Young awarded them a rating of gold, silver or bronze for
their role in advising local firms on everything from growing their services to
hiring staff. He also congratulated them for encouraging more graduates to take
on roles in innovative and exciting start-ups.
Congratulating
the SBC award-winners for their trail-blazing work, which Lord Young
recommended to the Prime Minister in his report on enterprise last year, he
said:
The recipients of today’s
award have all demonstrated exceptional dedication to improving links with and
supporting small businesses in their local area, already creating over 800
jobs.
Our world-class universities and
business schools are a key part of the UK economy – even more so as a
result of this initiative.
I hope that these awards will be
the first of many and build on the outstanding work our business schools do to
boost enterprise locally.
SBC schools have directly
helped over 8,000 small businesses – working with them through workshops,
mentoring and other business support.
The charter recognises business
schools with exceptional levels of engagement with small business. There are 30
criteria against which schools are measured including: growth in small business
support, stakeholder engagement and student start-up activity.
Gold-winning schools have
achieved more than 85% of the criteria, as well as hosting their own growth and
leadership programmes for small businesses. Silver schools achieved between 63
to 83%, bronze schools have achieved at least 40% of these.
Gold rated schools will be
allowed to issue start-up loans and growth vouchers – devolving even more
power to deliver enterprise locally.
The scheme has already helped
4,700 students to find work placements in Britain’s innovative
micro-business and start-up sector.
Award-winning schools offer
facilities such as:
- on-site incubators with
dedicated space for students and small businesses to start up and
grow
- a strong full time support
network of alumni and local business experts to support both students and small
businesses
Lord Young’s second report
to the Prime Minister, ‘Growing Your Business’, highlighted the increasing
importance that micro-businesses have on the success of the economy and
outlined recommendations to help them develop their confidence and capability
to grow.
His third report, covering
enterprise and education, is expected shortly.