UK SMEs urged to apply for multi-billion Euro new product development fund

Small and medium businesses across the UK are urged to apply for the European Union's Horizon 2020 package of support services for research and innovation in a bid to obtain the required funds for further developing their business, a media report has revealed.

Approximately 4.8 million businesses across the UK will be applicable for the fund, although just around 1 million are actually in a good position to win the bids, new product development contractor Pera Technology, who issued the call for action, has revealed.

Speaking about the significance of Horizon 2020 Paul Tranter, Chief Executive at Pera Technology, said: "If we are going to have an effective economic recovery in this country and across Europe the SME manufacturing sector is key. It is particularly important for an economy like the UK's where SMEs have been pinpointed as an engine for growth.

"This fund presents an enormous opportunity for SME manufacturers across the UK. 1,659 UK business and counting have successfully applied for the £1.2 billion that was previously available under Framework Programme 7, which runs until the end of this year and our intelligence suggests that the funding pot will be even bigger this time.

The final details of Horizon 2020 are expected to be announced in early December with the fund going live in January 2014.

Since thorough asset and workforce management represent a very important part of any product development programme, SMEs who do manage to successfully bid for funding should also consider implementing such solutions, and this is precisely where Tensor plc could really put its extensive experience to very good use.

We supply a range of solutions designed specifically to streamline workforce and skill management within companies of any sizes. Our WinHR suite enables managers to save and easily access a wide array of data pertaining to each of their employees, thus allowing them to better use the available resources and skill ranges at any given moment.

Moreover, Tensor's range of products offer both a high level of reliability and good value for money, which means that companies who do decide to implement our solutions will immediately see the returns, without taking a hit as far as their balances are concerned.

If you'd like to find out more about the range of workforce management and Time and Attendance solutions supplied by Tensor, just contact us or Book a Demo, our representatives will be more than happy to answer any questions or queries you might have.