Assessing the impact of Covid-19 on Innovate UK award holders. Wave 5- August 2022
SMEs as Social Enterprises: Regional Disparities, Access to Finance, Strategic Intentions, and the COVID-19 Pandemic
SMEs as Social Enterprises: Regional Disparities, Access to Finance, Strategic Intentions, and the COVID-19 Pandemic
COVID-19 Press coverage for the ERC
The Business Desk : Social Enterprises vital to post COVID-19 recovery Financial Times: Starting a business in the midst of a pandemic The Times: Number of new companies set up this year is likely to break record The Times: How small businesses can get one over the big boys in Zoom revolution IPSE: IPSE sets out… Read more
Resilient rural businesses innovate and diversify during Covid
Rural businesses in parts of England have shown remarkable resilience during Covid-19 by innovating and adapting in response to the severe economic challenges of the pandemic, according to a major new survey from the National Innovation Centre for Rural Enterprise (NICRE) led by the Enterprise Research Centre (ERC). More than a third of rural firms… Read more
Income Protection for Micro-entrepreneurs Under COVID-19: Serving Neoliberal Interests or Small Traders?
The Institute of Small Business and Entrepreneurship Conference in Cardiff, October 2021, was a joyous occasion that brought researchers together face-to-face for the first time since the COVID-19 pandemic began. The paper awarded ‘Best in Conference’ analysed UK policy to protect the income of small traders and microbusiness directors during COVID19, asking whether the policy… Read more
Digital readiness, Digital adoption and Digitalisation of UK SMEs Amidst the Covid-19 crisis
Digital readiness, Digital adoption and Digitalisation of UK SMEs Amidst the Covid-19 crisis
Drivers and Performance Outcomes of Net Zero practices: Evidence from UK SMEs
COVID-19, business support and SME productivity in the UK
Published this morning read the latest ERC Research paper and Blog looking at how UK COVID-19 emergency public support measures, furlough funding and loan guarantees during the pandemic have influenced firms’ future investment intentions and employee wellbeing. Click here for the Research paper Click here for the blog
Helping firms along the right road?
Over the last year businesses across the country have been supported by the government through the furlough scheme, loans and grants. But what effects have these schemes had on firms and how will this shape their performance in the future? It’s early days of course and the impacts of COVID-19 continue to be felt in… Read more
COVID-19, business support and SME productivity in the UK
COVID-19, business support and SME productivity in the UK
Large-scale business survey to shed light on rural resilience during COVID
The National Innovation Centre for Rural Enterprise (NICRE) is asking rural and farming businesses in the North East, South West and Midlands how they are dealing with COVID-19 to explore the lesser-known area of rural resilience. There is little research about how small firms in rural areas manage crises and how they recover so NICRE… Read more
The impact of Covid-19 pandemic on Northern Ireland SMEs: Evidence and comparison with the rest of the UK
Assessing the impact of Covid-19 on Innovate UK award holders, Wave 3. February 2021
The end of the beginning, or the beginning of the end for UK trade?
2020 was a terrible year for UK trade. Overall, UK exports in goods contracted by almost 15%, down by £54.5 bln[i] in the twelve-month period, this is even worse than the contraction seen in the UK economy as a whole, which was just under 10% in GDP terms. [ii] Furthermore, the early 2021 bilateral trade… Read more
The impact of the COVID-19 pandemic on UK SMES and their response
Innovate short, innovate long
The dire consequences of the COVID-19 pandemic on many firms across the UK continue with depressing implications for employment and future prosperity. The government has invested heavily in supporting businesses through the furlough scheme, loan schemes and rate relief. The strengths and limitations of these measures have been widely covered in the media, but less… Read more
Assessing the impact of Covid-19 on Innovate UK award holders Survey and case-study evidence Wave 2 –October/November 2020
Small business past, present and future
ERC’s 2020 State of Small Business Britain is now out. And what a year it has been for the UK’s small businesses. ‘Unprecedented’ must be the defining word of 2020 and our latest report looks at how the unprecedented events of this year have translated into impacts on and actions by small and medium enterprises… Read more
COVID hammers UK firms – but sparks digital ‘pivot’ for some
Over 40% of UK’s small and medium-sized firms report COVID-related hit to turnover, while 3 in 10 forced to cut jobs Around 200,000 firms could be close to collapse based on analysis of those trading insolvently or running out of cash But a fifth of firms report positive impacts from the pandemic, with many embracing… Read more
What ‘works’ for improving small business productivity?
Ask anyone working with small business owners and they will tell you great stories of how mentoring and training can transform people and their businesses. Each of these stories is important in its own right. In terms of policy, however, this type of anecdotal evidence is of little value in terms of justifying public investments… Read more
Crisis entrepreneurs
Is now a good time to start a new business? In this FT article published this morning, ERC Deputy Director Mark Hart says we could be seeing an uptick of “crisis entrepreneurs” adding that these are people who have lost their job during the pandemic and have no other choice in the current labour market than… Read more
Entrepreneurship “in jeopardy” after hitting new high pre-Covid
Published today the GEMUK 2019 report sponsored by NatWest shows UK early-stage entrepreneurship hit a new pre-pandemic high in 2019. However, this may be in jeopardy because of the effects of the crisis combined with significant gaps in support for people in the early stages of enterprise formation. The Global Entrepreneurship Monitor (GEM) research consortium… Read more
Talking about workplace mental health: How do employers in the Midlands understand and experience mental health issues?
The second lockdown risks an insolvency tsunami
Thousands of businesses across England will remain shuttered today as the new month-long coronavirus lockdown takes effect. Citing new scientific evidence showing an expected surge in cases nationwide over the coming weeks, the Government finally bowed to pressure and abandoned its previous regional tiering strategy last weekend. Critics argue that a sharp ‘circuit breaker’ lockdown… Read more
Workplace mental health and Covid-19: experiences of firms in the Midlands
Stewardship and Survival: What can we learn from longstanding family businesses?
Support for entrepreneurs critical for post-Covid recovery – GEM
Global Entrepreneurship Monitor report calls on policymakers to create right conditions for an enterprise-led economic recovery worldwide. Policymakers around the world must provide clear advice and practical support for entrepreneurs to ensure global economies recover from the devastation of coronavirus, a new report says. Presenting a snapshot of support measures introduced by… Read more
Diagnosing COVID-19 Impacts on Entrepreneurship – Exploring Policy Remedies for Recovery
The impact of policy decisions can play an important role in entrepreneurial success. A new GEM report: “Diagnosing COVID-19 Impacts on Entrepreneurship – Exploring Policy Remedies for Recovery”, sponsored by Shopify, features over 50 GEM research teams around the world sharing how their government’s response to COVID-19 compared to previous crises and the entrepreneurship policy… Read more
One size doesn’t fit all in terms of R&D and innovation
While some of us have been able to work at home during the Covid-19 crisis – and may have actually improved our productivity – this has not been the case for most of those involved in research and development (R&D). Lock-down has meant no access to laboratories or the specialist kit needed, so many R&D… Read more
Assessing the impact of Covid-19 on Innovate UK award holders Survey and case-study evidence Wave 1 – June/July 2020
How small businesses can get one over the big boys in Zoom revolution
Some small companies have adapted in the Zoom revolution with the ability to compete with larger rivals as potential customers , suppliers and partners no longer expect physical meetings. New article out today by David Wighton in the Times with comment from Mark Hart suggests that the crisis has boosted the efforts of small companies… Read more
First findings on the impact of COVID-19 on self-employment in the UK – evidence from the Understanding Society household survey
June 2020 Press Coverage
Business News Wales: Lack of support for workers’ mental health “cuts firm productivity by a quarter” IPSE: IPSE sets out case for more support for self-employed in latest Treasury Committee evidence
ERC research used in new business diagnostic and recovery tool
The ERC have partnered with business support organisation Oxford Innovation to create a new GROWTHmapper® Recovery diagnostic and recovery planning tool. The tool helps SMEs assesses their immediate and future needs in the context of the Covid19 crisis, working in conjunction with an accredited GROWTHmapper® coach or advisor. A suite of tools developed by the… Read more
Could Covid-19 give SMEs strategic space to improve productivity?
For a long time, the UK has produced many firms that perform poorly yet manage to survive. Various descriptions of these firms have been used. In recent debates about productivity for example they have been referred to as ‘the long tail’ of underperforming businesses. Shortening the long tail has been identified as a policy priority… Read more
Business Support Tools : Oxford Innovation GROWTHmapper® Recovery
Business Support Tools : Oxford Innovation GROWTHmapper® Recovery ERC have supported Oxford Innovation in the creation of the GROWTHmapper® Recovery diagnostic and recovery planning tool. The tool helps SMEs assesses their immediate needs and, in conjunction with an accredited GROWTHmapper® coach or advisor, creates an effective business management and recovery plan for the current Covid19 crisis. A… Read more
International sectoral R&D trends after the global financial crisis: What can we learn for current policy?
Covid-19: How can SMEs innovate their way out of the crisis?
Mark Hart authored a blog for The Aston Angle looking at how businesses will be impacted by the COVID-19 pandemic. Some sectors may benefit financially, while others will suffer huge losses. Those countries with more service-oriented economies, like the UK, will be more negatively affected and will suffer larger negative employment effects. The UK economy was… Read more
Can we afford to return to “busy-ness” as usual?
Lorry drivers on tight schedules. Pet owners demanding more from their vets. Sales and service staff working from home with little access to office support. Archaeologists staying in hotels as a way of life. Hospitality staff working longer than contracted hours to make ends meet. Short-term contracts restricting access to finance. Ex-Army personnel with PTSD… Read more
Re-booting start-up policy in response to the COVID-19 crisis
Bouncing back from the Covid-19 crisis: reflections on mental health and resilience
Bouncing back from the Covid-19 crisis: reflections on mental health and resilience Firms that survive adversity often have the abilities, characteristics and actions of their employees to thank. As many reflected during Mental Health Awareness Week last week, it is worth remembering that the current crisis will undoubtedly have impacted upon the mental health of… Read more
BackinBusiness : No Country for self-employed podcast
Professor Mark Hart, Deputy director of the ERC whose research shows many self-employed are slipping through the safety net joined the BackinBusiness team for this podcast alongside two self-employed people to discuss the impact of the lockdown on their businesses, Government loans and disappearing customers which are all of concern at this time. Listen to… Read more
R&D: What can the Great Recession tell us about the likely impact of COVID-19?
It seems increasingly clear that the economic impacts of COVID-19 will be startlingly sharp for the UK and other world economies. The great unknown at present is whether the historic quarterly contraction we’re expecting to see in Q2 of 2020 is followed by a rebound, or a deep and painful recession. What’s also difficult to… Read more
R&D and innovation after Covid-19: What can we expect? A review of trends after the financial crisis
Is small lending too big to fail? Covid-19 and P2P lending to SMEs
Over the last decade, the landscape of SME finance has changed dramatically. In the aftermath of the financial crisis, while traditional bank lending experienced a sluggish recovery, a new model of online marketplace (P2P) business lending emerged. Funding Circle, started in 2010, was the world’s first P2P platform to fund business loans and seemed to… Read more
Consumer Spending Responses to the COVID-19 Pandemic: An Assessment of Great Britain
Covid-19 and self-employment in the UK
UK companies facing COVID-19 “pincer movement”, data shows
News release: 20 April 2020 New data shows a spike in limited companies going out of business – coupled with a big decline in new starts – has hit all regions and sectors since the start of March New data suggests the UK economy is facing a worrying “pincer movement” due to the coronavirus pandemic,… Read more
Business Dynamism and COVID-19 – an early assessment
Left in the cold: How company directors are excluded from the Government’s coronavirus support schemes
The Government’s various coronavirus support schemes aim to provide a safety net for both employees and the self-employed during the suddenly-imposed ‘lockdown’ period now affecting the UK economy. But while the headline measures announced by Chancellor Rishi Sunak over recent weeks – including the Coronavirus Job Retention Scheme (JRS) aimed at employees, Coronavirus Business Interruption… Read more
The business effects of pandemics
Published today this ERC rapid review Insight paper considers the existing evidence on the business effects of pandemics, with a particular focus on the impact on small and medium enterprises (SMEs). Evidence from previous pandemics is reviewed, and in addition, we provide an overview of early assessments of the emerging evidence on the business impacts… Read more
The business effects of pandemics – a rapid literature review
Press Coverage : Covid19: Critique and Proposals to Develop More Comprehensive and Inclusive Support for the SelfEmployed. Research Report. April 2020
Birmingham Live: Coronavirus crisis could mean 100,000 jobs lost around Birmingham, expert warns Radio Interview on You-Tube Telegraph : Blackhole of financial support threatens to ‘decimate’ generation of entrepreneurs Mirror : Seven million workers to be paid by state as firms join coronavirus furlough scheme
750,000 self-employed miss out on UK coronavirus support – study
Lack of provision for most vulnerable self-employed in measures announced by the UK Chancellor last week threatens to “decimate a whole generation of early-stage entrepreneurs”, report authors say. More than 750,000 self-employed people in the UK could miss out on Government support during the coronavirus pandemic, a new analysis has shown. The findings from… Read more
Covid19: Critique and Proposals to Develop More Comprehensive and Inclusive Support for the SelfEmployed
Covid-19 and the implications for future innovation
Over the last few days we have seen some inspiring and innovative responses to the Corona Virus crisis by UK firms and universities. The JCB-Dyson collaboration to produce ventilators and the UCL-Mercedes AMG collaboration to develop other breathing aids are outstanding examples. Necessity is the mother of invention after all. But what of the wider… Read more
The duration of the economic restrictions is decisive for the German Mittelstand
As in the UK, significant parts of small and medium-sized enterprises (SMEs) in Germany are affected by the corona virus pandemic. In this difficult economic situation, the Federal Government in Germany has sent a very positive signal with its comprehensive support measures targeted not only at large corporations, but also at medium-sized, small and micro… Read more
‘Stay Home’ and Work? Implications of COVID-19 and the UK Governmental Response for Self-Employed Women
Given last week’s government announcement of the stimulus bill meant to mitigate the effects of the COVID-19 crisis on the UK economy, it is important to recognise the implications for women broadly, and self-employed women more specifically. Such bills are notoriously gender blind, thus discounting the impact on the extent to which self-employed women are… Read more
Sunak’s self-employed support is welcome – but here’s five ways to improve it
After a wait that felt like an eternity, self-employed people finally got some clarity yesterday (March 26th) on how the Government intends to support them during the coronavirus pandemic. Chancellor Rishi Sunak’s Self Employment Income Support Scheme (SEISS) was more generous than many expected. The headline is that self-employed people will be able to claim… Read more
ASTON MEANS BUSINESSS – SMEs dealing with COVID
With the COVID-19 pandemic threatening to shut down the economy, we’re working with Aston Centre for Growth to turn the podcast’s attention towards how SMEs are dealing with the crisis. This special series is called ‘Aston means business: SMEs dealing with COVID-19’. In each episode, we’ll be talking to current and previous business participants in… Read more
Avoiding Economic Meltdown In a National Emergency?
It took less than a week following the Chancellor’s Budget the package to feel woefully insubstantial given COVID-19 developments and the impact on the economy, businesses and jobs. As expected, he was on his feet again this week with a much bigger suite of measures aimed at supporting businesses with costs and cashflow. “Whatever it… Read more
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