§ Mr. Stephen O'BrienTo ask the Secretary of State for Trade and Industry if she will make a statement on the role of the SMART awards in boosting enterprise in the UK. [153549]
§ Nigel GriffithsIn 2001–02 the SMART scheme helped 1,140 small firms with grants or grant offers of £47 million. This is a record take-up and a substantial increase on the 800+ awards in 2000–02. It is estimated that the impact of SMART has boosted the economy by an extra £500 million pa and generated an extra £270 million in exports.
The new Grant for Research and Development builds on the success of the SMART scheme.