Business Hub latest news
University College Birmingham has announced that it intends to use the monies saved from the temporary 2.5% reduction in VAT to support the training needs of local businesses.
The VAT cut announced by Alistair Darling last November will save the College nearly £120,000 this year.
UCB Principal, Ray Linforth said: "The cut in VAT has created an unexpected surplus for us that had not been taken into account in our budget for this year. In the current economic climate we felt we should use this windfall to help local businesses."
The funds have been allocated to BusinessHub@UCB, the College’s specialist employer engagement unit. They will be used to enhance the funds already available to support the training and development needs of local businesses. The BusinessHub offers off-the-shelf and bespoke training and business consultancy drawing on the technical and industry experience of the College’s staff. Services on offer to businesses also include assistance with key business problems, such as process and profitability improvements, and product/service developments.
Director of the BusinessHub, Don Hacker, said: "We've been able to add value to the bottom line of businesses in the service and food manufacturing sectors both large and small, and to help new products come successfully to market. With this additional funding, we will be able to offer even more support to local businesses to help them through the credit crunch. Now is the time to invest in employee skills and capabilities and to fine tune business processes to raise the game of local companies."
Mr Linforth added: "These are very difficult times for local businesses and the people who work in them and we should all do whatever we can to help bring the City and the Region out of recession."
UCB specialises in programmes and services to support the services to people sectors, especially hospitality, catering, bakery; spa, hair and beauty; tourism and sport; childcare and health. A particular expertise with food products and manufacturing has led to Advantage West Midlands, the regional development agency, investing in the creation of a regional food new product development and testing facility for all local food manufacturers at the College. Employers seeking support with their training and business development needs should contact: BusinessHub@UCB on 0121 604 1000 Ext 2341.
For more information please visit the BusinessHub@UCB page.