No matter how good we are at running our business, sometimes we can all benefit from an external perspective and hearing from those at the cutting-edge of research. Opportunity Peterborough has excellent relationships with a number of universities, research institutes and consultancies and can introduce you to the most relevant organisations to help you reach the next stage of evolution.
Knowledge Transfer Partnerships
Knowledge Transfer Partnerships (KTP) is a UK-wide programme enabling businesses to improve their competitiveness, productivity and performance.
KTPs form a partnership between your business and an academic institution – a university, further education college or research and technology organisation – allowing you to access skills and expertise to help your business develop.
The knowledge sought is embedded into the business from the institution through a project, or projects, undertaken by a recently qualified student, recruited to specifically work on that project. KTPs can vary in length from 6 months to three years, depending on the needs of the business and the desired outcomes.
A KTP is part-funded by a government grant. A small to medium-sized enterprise (SME) would be expected to contribute about a third of the costs involved in the project – the average annual contribution to a project for an SME would be around £20,000. This contributes to the costs of the institution’s supervisor and towards the student’s employment and development. Your contribution to the costs of the project provides the services of your KTP student, the time and expertise of the academics or researchers working with you, and, in the case of a long-term strategic KTP, expert guidance from a KTP Adviser.
If you think a KTP could benefit your business and you’d like to find out more then contact Opportunity Peterborough.
Increases in profitability don’t have to come from increases in sales. Improvements in operational efficiency can lead to increased productivity and cost savings that improve the bottom line. There a number of ways to improve operational efficiency:
- Leveraging technology – enabling mobile workers, taking advantage of Peterborough’s gigabit speed internet network to utilise cloud computing services, improving automation and investing in more efficient machinery can all help to deliver benefits to your business.
After putting together usage cases with the Future Peterborough team (run by Opportunity Peterborough and Peterborough City Council), social housing provider, Cross Keys Homes, is running an Internet of Things trial in partnership with gigabit fibre provider, CityFibre and Comms365. State-of-the-art sensors are helping improve residents’ wellbeing, reduce costs and improve safety by monitoring humidity, condensation, wasted heat, noise levels and problem parking.
- Resource efficiency – producing more with less, reducing power costs and finding a market for your waste are just some of the ways to reduce costs. Peterborough has a whole host of organisations engaged in its circular economy programme, Circular Peterborough. The initiative aims to help businesses eliminate all forms of waste and get maximum value from their resources so they cut costs and limit environmental impact. Participation is free of charge. To find out more, contact Opportunity Peterborough.
One of Peterborough’s largest manufacturers, Perkins, advocates for remanufacturing, a significant part of circular economy. A remanufactured component can can result in 70% less waste production and 80% less energy usage – savings that can be passed on to customers.
- Process efficiency – analysing existing processes and removing wasteful steps, better aligning workloads, standardising processes, re-organising workspace, and creating benchmarks and metrics can all help to improve customer service, cut operational costs, and improve competitiveness.
- Supply chain management – working with your suppliers and customers to optimise efficiencies within the supply chain can deliver huge cost savings. So too can the promotion of innovation within existing supply chains and the identification of new suppliers with innovative new products and materials.
Business and Professional Services
Peterborough businesses benefit from the presence of a wealth of highly experienced professional service providers based in and around the city.
- Solicitors – Peterborough’s solicitors provide a comprehensive range of services and expert advice on all legal matters including property, employment, health and safety, contract law and commercial litigation, to name a few. They are well represented by the Peterborough and District Law Society – a full list of its members can be found here. Notable Peterborough law firms can also be found in the highly reputable Legal 500 and Chambers & Partners directories.
- Accountants – Likewise, Peterborough is well provided with highly competent accountancy firms – international, national, and local – able to support you through all manner of financial business issues. The Peterborough Town Group of the Institute for Chartered Accountants in England and Wales is very active and members are able to provide free advice to Small and Medium-sized Enterprises via the ICAEW’s Business Advice Service.
- Property and recruitment agents – Peterborough is also well-served with highly professional property and recruitment agencies, all of whom have fantastic insight into local and national market trends and conditions, and who are flexible to customer requirements.
For more information on any of the areas covered on this page, or to request an introduction to organisations that are best able to meet your requirements, contact us