DTI review to rationalise grants
Hundreds of government business support schemes could be merged into five or six strategic pots as part of the DTI's ongoing review of business support services.
Hundreds of government business support schemes could be merged into five or six strategic pots as part of the DTI's ongoing review of business support services.
According to today’s Financial Times, ministers and officials are finalising two reviews of the DTI’s structure and business support services. The FT was told that a radical shake-up of the more than 200 grants schemes, worth around Pounds 1bn in total, is a certainty.
Apparently senior DTI officials are even unsure about how many funds already exist.
‘There’s been quite an argument about precisely how many schemes we offer, depending on whether you count those that have stopped giving out money,’ one insider told the FT.
The funds will be merged into ‘five or six larger pots linked to strategic portfolios within the department, such as knowledge transfer, productivity promotion and competitiveness’, according to the paper.
Another change expected is the breaking-down of barriers between sectors in the department. Trade secretary Patricia Hewitt is understood to believe there is a ‘silo approach’, with officials thinking only about their own specialist area.
A DTI official told AccoutancyAge.com that a review of the funding regime was underway. But he added: ‘No conclusions have been reached.’
Links
IoD tells DTI to adopt clear agenda
The numbers you crunch tell a story. Your expertis...
23yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThis follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleKPMG confirms reappointment of it's UK chair, while EY announces Janet Truncale as the next EY global chair and CEO Read More...
View articleThe ICAEW has announced the appointment of its forthcoming chief executive Read More...
View article