Wales supports SMEs

A recent publication by the European Commission in identifying good practice in small and medium enterprises (SME) policy, says Wales Online.

These include a range of projects which could be adopted here in Wales to support the business community.

For example, the innovation vouchers scheme from Austria is a simple scheme which tries to encourage firms to take the first step in working with the university sector. In effect, it provides a subsidy of 5 000 Euros for small businesses to buy services such as studies on ideas, and support in developing prototypes from the university sector.

According to ITWales, concerns about business conditions in an uncertain economy outweigh interest in potentially innovative new technologies among SMEs, according to IDC.

The analyst published a new report this week highlighting the fact that economic growth is the most important priority for SMEs in Western Europe and North America.

Businesses in Wales are advised that innovative new technologies can help them to improve efficiency, productivity and performance during tough economic conditions.

The Victorian Government will invest $40 million in a new programme designed to help SMEs commercialise new technology, says Smart Company.

The Boosting Highly Innovative SMEs (BHIS) programme is part of a $300 million innovation package announced yesterday, which also includes $145 million to establish the new Victorian Science Agenda Investment fund for competitive innovation, science and technology grants.

"Victoria really is the innovation capital of Australia," Victorian Premier John Brumby told reporters.