The 2021 Budget
Response of the British Academy of Management to the Chancellor’s 2021 Budget
March 4, 2021
The Chancellor’s 2021 budget provides continued stimulus in response to the deep impact of COVID-19 pandemic on the UK economy, including a number of broad support measures for business and SMEs.
The British Academy of Management particularly welcomes the announcement of the Help to Grow: Management programme, aimed at upskilling senior leaders at 30,000 SMEs over the next three years. The 3-month programme is funded in partnership between the Government and our sister organisation, the Chartered Association of Business Schools, and will deliver practical management training to SME leaders through UK business schools accredited by the Small Business Charter. The Government will contribute 90% of the cost, totalling £220m between fiscal years 2021/22 and 2023/24.
Professor Katy Mason, BAM’s Chair, said ‘The Help to Grow: Management programme shows that our community is ready, able, and eager to help the UK bounce back from the Covid-19 pandemic, stronger and better than we were before. Business and management research offers a robust and relevant evidence-base for tackling many of society’s biggest problems – from improving productivity to enhancing supply chain resilience and shaping new markets. Business and Management scholars can provide targeted courses to support business leaders in achieving their goals, and can co-develop solutions with them for application on the front line.’
Professor Nic Beech, BAM’s President, said ‘This programme is a powerful example of how business and management research can be used to work with and develop SME business leadership, and to improve practices and raise productivity across the UK.’
BAM also welcomes the Chancellor’s announcement that there will be additional visa routes for talented researchers to come to the UK, and that application processes will be streamlined and simplified. As a discipline with a large proportion of international staff (more than 1 in 3), this is crucial for the continued ability to recruit and retain international talent in future.