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Ofcom Reviews Market Research Spend
UK communications regulator Ofcom is the latest public body to announce it is looking for spending cuts, with market research one of the areas slated for review. Meanwhile another government body has relaunched an R&D grant scheme for small business, 'though with a reduced budget.
In a statement released on Friday the independent regulator said it must make a 22.5% real terms year-on-year reduction in its spending, reducing its budget for 2011/2012 to £115.8m from a planned £149.3m and an actual 2010-11 spend of £142.5m.
Ofcom regularly carries out research into the markets it regulates. This includes the Communications Market Report, an annual statistical survey of developments in the communications sector, and annual reports into consumer experience.
The savings will be achieved by a combination of a reduction in staff (the majority of the 170 redundancies have already been made) and a reduction in expenditure through greater strategic focus, streamlining of the decision-making process and enhancing organisational effectiveness. Among possible streamlining activities, Ofcom says it will be looking at:- A simplified governance structure and a reduction in panels and committees;
- Ending involvement in specific activities such as digital participation;
- Reviewing and prioritising market research activity;
- Cutting contributions to some pension schemes; and
- Outsourcing its ICT.
s a result of these measures stakeholders can expect to pay up to 40% less in contributions to Ofcom's upkeep, it said.
A full statement can be found on Ofcom's www.ofcom.org.uk/about/annual-reports-and-plans/tariff-tables/tariff-table-2011-12 web site.
Also in the UK, the government's Technology Strategy Board has relaunched a scheme offering grants to small businesses (less than 250 staff) for research and development. The awards, up to £250,000 in size, are available for companies conducting product and market research and prototyping, reports www.telegraph.co.uk . The new 'Grant for R&D' scheme replaces one established in 2003 and frozen last year after giving more than £150m to around 2,000 companies; and a predecessor, the SMART awards which gave around £90m to another 2,200 companies between 1998 and 2003. Despite the reduced amounts, the relaunch of the scheme - online at www.innovateuk.org - was welcomed by business advisors and entrpreneurs, the paper reports.
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