Third round of Business Basics fund to “boost productivity”

Thousands of pounds of funding is now available for small businesses to invest in productivity-boosting technology through the Business Basics Programme (BBP).

The grant scheme, relaunched this month, encourages small organisations to adopt existing technologies and management practices, such as cloud accounting and invoicing software.

October marked the third round of grants launched under the BBP, with more than £2 million available for trial projects involving “technologies which support business and administrative functions”.

According to Innovate UK and the Innovation Growth Lab at Nesta, who administer the grant, this round will have a particular focus on addressing late payments.

It comes after a Government report revealed that poor payment practises are holding back the economy.

Welcoming the latest round of funding, the Federation of Small Businesses (FSB) said: “The third round of applications for the Business Basics fund closes in less than five weeks. Grants of up to £400k are available to run trials around encouraging smaller businesses to adopt technologies that help with back-office functions such as accountancy, payroll and invoicing.”

How to apply

  • your proposal must focus on technologies which support business and administrative functions, such as payment practices, accountancy and human resources
  • all project work must be carried out in England
  • all selected projects must start on or shortly after 01 June 2020
  • grant funding of up to £400,000 per project is available
  • you must have an independent evaluation partner

The closing date for Expressions of Interest is 12pm on Wednesday 04 December 2019. Shortlisted bidders will be invited to submit a full application by 19 February 2020.

For help and advice on bidding for grant funding, please get in touch with our expert team today.

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