The government has announced proposals to introduce a new independent £2.9 million Enterprise Research Centre which will look at investment strategy for SMEs.

The Enterprise Research Centre will help develop a greater understanding of the factors affecting business investment, performance and growth.

It is a joint collaboration between the Department for Business, Innovation and Skills, the British Bankers Association, the Economic and Social Research Council and the Technology Strategy Board.

Business and Enterprise Minister Mark Prisk, said:

'The Government is committed to boosting enterprise and giving entrepreneurs the right environment to be successful and grow. We are creating a network of thousands of business mentors and providing quality coaching to a range of high growth potential businesses. We are also launching a £10 million startup loan scheme to provide young people with a range of business support and access to a small amount of capital to start their business.'

'Research is vital to ensure that Government makes evidence based decisions about how to develop these schemes and improve the business environment in the UK. By collaborating with partners and bringing together leading academics we will be able formulate long term policy that will help to stimulate economic growth in the UK.'

Internet link: Press release