Business insight into effects of Covid-19 on innovative businesses

Advanced Oxford member, Oxford Innovation, has recently undertaken an analysis of innovative SMEs based in the south east of England, drawing on Oxford Innovation’s delivery of Enterprise Europe Network support, an Innovate UK programme. The innovative businesses on which the analysis is based are typically developing new products/services, scaling and exporting or looking to do so. They are the types of businesses likely to drive future growth and create jobs as the economy recovers following the business disruption caused by Covid-19.

This work, which draws on the experience of over 70 companies, is based on insights collected between mid April and early July and as such, complements the research undertaken by Advanced Oxford on company impacts and early-stage investment, earlier in the lockdown.

Oxford Innovation – Covid-19 Impact on Innovative SMEs – 17 April-9 July 2020 (002) 

The report finds that most SMEs have stabilised and reduced their outgoings to match income. They are now focused on rebuilding their order books although this will be easier in some sectors than others. The following are key requirements for support:
● Scenario planning and financial modelling to ensure that SMEs understand and are prepared for a range of different recovery pathways
● Advice to rebuild their business models to support sustainable growth in the short, medium and longer term
● Sales and marketing support to help SMEs develop new sales channels and acquire new customers
● Interventions that unblock early stage investment and give angels confidence to invest in new SMEs
● Greater incentives for large organisations (public and private sector) to restart development projects to trial and demonstrate new products and services.

The report is authored by Advanced Oxford board member, Jane Galsworthy.

Recent news

Barclays opens its 25th Eagle Lab in Oxford

Barclays opens its 25th Eagle Lab in Oxford

Barclays Eagle Labs officially launches in Oxford at The Wood Centre for Innovation   Barclays Eagle Labs has opened its doors in Oxford at The Oxford Trust’s Wood Centre for Innovation in Headington’s Health & Life Sciences District. Oxford is one of a...

read more
Life Sciences company Evotec expands at Milton Park

Life Sciences company Evotec expands at Milton Park

Evotec, a leading drug discovery alliance and development partnership company, has taken additional office and laboratory space at Milton Park.  Milton Park is an Advanced Oxford member and one of the leading science and technology communities in Europe.  The...

read more

Advanced Oxford is a community interest company (CIC), number 10976883

© Advanced Oxford 2019 | Site by Herd