Enterprise UK to Close in April

Following the withdrawal of public funding, Enterprise UK is set to close after six years of operation. Despite the initial enthusiasm of the CEO, Tom Bewick, in being able to find other revenue streams ultimately this was not forthcoming.

Enterprise UK, co-founders of Global Enterprise Week, tried to find a way to continue a legacy albeit in a different guise but the board meeting on Monday, chaired by BBC’s Dragon’s Den panellist Peter Jones and Enterprise UK’s founders – the CBI, the British Chambers of Commerce, the Institute of Directors and the Federation of Small Businesses – found that the organisation had to cease operation.

Operations such as ‘Tenner’ (a scheme which gives £10 to young people to begin a business) and ‘Make Your Mark’ will continue through March but they do aim to have closed their offices by the end of April 2011.

It seems another organisation, which was dependent on government funding, has had to close. It will leave a gap in promoting enterprise especially within hard to reach communities and young people. It is nonetheless a surprise given their mission sounds very similar to the current political rhetoric:

“To inspire a more entrepreneurial culture in the UK and accelerate entrepreneurial success for those who aspire to achieve”