US-style 'incubators' for UK
Monday 01 May 1995
The certificates are designed to signal a firm's financial competence and so encourage banks to lend. This morning the minister announces a new panel under Graham Ross Russell, chairman of the Securities Institute, which will look for ways to set up US-style small business "incubators" in the UK. These are centres for small business run by expert directors who help the firms to grow until they can become independent.
The two moves result from Mr Nelson's industrial finance initiative,a Treasury study that produced suggestions for improving the flow of finance to business.
Mr Nelson said 60 proposals had been accepted and another 40 had been acknowledged as desirable. He rejected suggestions that the incubators could cut across the role of the Business Links units being set up by the Department of Trade and Industry to rationalise advice to small and medium-sized firms.
The incubators would work through them, but he did not believe Business Links would know how to run incubators successfully.
Mr Ross Russell's panel has 18 months to look into whether they could be set up more extensively in the UK. But the Treasury does not, at present, have funds lined up to back the incubators, which it hopes will be set up by the private sector.
The same applies to the financial management certificates. Mr Nelson said he had met the heads of all the British accounting bodies to ask them to introduce the new qualification, but he admitted that their response had been mixed.
The certificate will be awarded to the company applying for it rather than its directors. Mr Nelson expected the certificate to come in modular form so companies of different size and complexity could seek qualifications at the most suitable level.
Banks, small business representatives and training specialists are also being consulted.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Sony hack: Angelina Jolie branded 'seriously out of her mind' in further embarrassing leaked email saga
Panic Saturday: 13 million Britons spend £1.2bn – while 13 million others across the country live in poverty unable to afford food
iJobs Money & Business
$200 - $350 per annum: Carlton Senior Appointments: Managing Producer Office...
$125 - $225 per annum: Carlton Senior Appointments: San Fran - Investment Advi...
Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...
Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...