European Commission - Internal Market, Industry, Entrepreneurship and SMEs

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Enhancing the Competitiveness of Small and Medium Sized Enterprises

Title of measure
Full title in national language:
Enhancing the Competitiveness of Small and Medium Sized Enterprises
Duration:
2017 to 2023
Policy objectives Plus
Presentation of the measure:

Lancashire is one of the largest economies in the north of England, generating £29bn of GVA and supporting over 623,000 jobs. The importance of the SME base to Lancashire's economy and the vital role of entrepreneurship as a driver of economic growth and job creation mean that Lancashire needs to significantly improve the level of entrepreneurial activity. At present Lancashire experiences low levels of entrepreneurship, with a business formation rates, business death rates, long term business survival rates and business densities all performing below the UK average. For this reason, the measure aims to enhance the competitiveness of small and medium sized enterprises (SMEs) and specifically:

  • promote entrepreneurship, in particular by facilitating the economic exploitation of new ideas and fostering the creation of new firms, including through business incubators;
  • support the creation and the extension of advanced capacities for products, services and development.
Keywords:
Budget, source and type of funding
Year2017
National public funds
Regional public funds
EU Structural Funds 3,000,000
Private funds
Other
Form of funding provided
Grants
Policy learning
To what extent the measure can be considered as a success and worthy of policy learning?:
It is too early to judge the success of the measure (e.g results of first call for proposals still not known).
Evidence of outcomes based on evaluation and other evidence:

An important positive factor impacting on the degree of success of this measure is the presence of a strong and active ecosystem of the innovation. Vice versa, a negative factor is the low propensity of SMEs in investing in R&D for improving competitiveness.
 

What are the most important “Do’s and Don’ts” that regional stakeholders should be aware of when launching a similar measure?:

In launching this kind of measure is important having an overall economic picture of the territory. In particular regional stakeholders must analyse the entrepreneurial activity in the area. After understanding the main needs, it is necessary provides actions for covering these lacks. It is important avoid focusing only on economic indicators but is better focusing also on indicators about education and innovation in order to have a better vision.

Would you recommend this measure as an example of regional good practice to policy-makers from other regions ?:
Yes
Organisation(s) responsible