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The Government is offering small businesses match-funded grants of up to £30,000 to help them improve their productivity.
Operated in partnership with Jersey Business, pilot scheme is open to firms with fewer than 20 staff with a clear plan of how investment in new technology or processes will improve their productivity until 15 September.
The Government has struggled to reverse the trend of plummeting productivity – which is measured in terms of economic output divided by the number of employees – for several years. The challenge has been further complicated by the pandemic.
“The task of improving productivity can be challenging. Productivity is not about working harder, it’s about increasing economic output whilst reducing the resources required to achieve that increase,” Economic Development Minister Senator Lyndon Farnham said.
“Jersey businesses are operating in a competitive environment, our economy and geography have certain limitations, and the effects of the pandemic on the economy will continue for some time. By providing government support to boost productivity across all sectors, we will contribute to our goal of developing a strong, sustainable economy.”
Jersey Business CEO Graeme Smith added: “The COVID-19 pandemic has shone a light on business resilience in Jersey, and has accelerated many of the challenges that businesses have faced.
“This scheme will help those businesses that have had ideas for improving their productivity but have struggled to implement them.”
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