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What Is Digital Transformation?
Digital transformation is when businesses take advantage of new digital technology and innovation in order to improve efficiency or gain a competitive advantage. It is becoming increasingly important for small businesses in the UK to modernise their operations by improving their technical infrastructure and taking older tried and tested methods and updating them to new systems in order to compete with others similarly positioned in their field.
What are some Example Digital Transformation Activities And What Are Their Benefits?
i) Increased Promotion – Taking a business online and developing a new website or carrying out online marketing activities to attract new customers from further afield.
ii) Improved Innovation – Taking industrial processes and adding in smart technology in order to update and modernise manufacturing to increase productivity, efficiency and save on production costs.
iii) Adding Automation – There is also the option to invest in the latest software or hardware and streamline business operations, such as automating otherwise labour intensive and repetitive tasks to increase working time efficiency and reducing administrative burden, freeing up key operatives to spend time on tasks that add value to the main business goals instead.
What Are The Challenges Of Taking On A Digital Transformation Project?
Whilst there are clear advantages to updating a business, there are also challenges involved. Due to the rapid evolving landscape of technology, not every small business has the relevant expertise to carry out a successful digital transformation project on their own. Here are some of the key hurdles that a business needs to consider.
i) Cost – The cost of the latest technology and digital solutions are quite high and can sometimes run into tens of thousands of pounds even as a starting point, depending on the industry sector, size of the business and the solution required. Whilst it is a huge initial investment, the return on investment over time can pay off, but some businesses will need to assess where they can gain access to additional funds to pay for it.
ii) The Right Solution – Every single business operation is unique and there are many off-the-shelf digital solutions available for businesses that promise to increase productivity and save time. However, it is not always the case that this will apply and some businesses will require a more bespoke solution, where an expert will come in and assess every aspect of a business before providing a plan to go digital. For many industries a bespoke solution is more likely to be required once you leave the realms of typical office-based or retail environment settings. For example, if you run a sea-fishing operation then there will be lots of bespoke monitoring hardware and customised industry specific software solutions required.
iii) Protecting Data and Digital Compliance – As soon as anything becomes digitised, including key business and customer data it becomes more at risk to security threats, such as from hacking, physical theft or data loss due to hardware failure. It is important to put a plan in place where the data from your new digital project is protected, so only key stakeholders can access it, it is stored securely with regular back-ups and that all these processes satisfy data protection compliance laws, such as GDPR.
What Funding And Support Is Available For Digital Transformation?
In the UK there are both grants available to help pay for the costs of digital transformation activities and also fully funded support from expert organisations, such as innovation organisations and universities who can take a look at start-ups and SMEs in particular and provide guidance on what are the best steps to take in order to take key processes in a business digital and get the best performance gains.
Who Are Some Of The Main Support Organisations For Digital Support?
i) Digital Catapult
The Digital Catapult is part of the Catapult Network under Innovate UK and works with start-ups and businesses in order to help them accelerate their activities by implementing advanced digital technologies into their operations. They run a number of different support schemes and provide funding to support businesses in digital transformation.
ii) Innovate UK
Innovate UK has a specialist digital team that provides support for businesses looking to get involved in projects relating to advanced digital trends, such as 5G, cybersecurity, AI for services, digital economy and the Internet of Things (IoT). They also run a large number of funding opportunities related to digital transformation and the digital economy all year round.
iii) Made Smarter
Made Smarter is a support organisation that can assist UK businesses in adopting digital manufacturing techniques and tools to increase productivity and innovation. It also has a Smart Manufacturing Data Hub (SMDH) that supports small and medium sized manufacturing businesses by helping them to become more competitive by using the power of data. There are regional experts available to help manufacturers in the North East, North West, West Midlands, Yorkshire and the Humber, West of England and the East Midlands who are looking to adopt digital tools and match funding grants to help purchase the relevant software and hardware to become smart manufacturers.
iv) Europa – Horizon Europe
The European Commission under its Horizon Europe Programme is looking to transform digital inclusion across the EU and its wider European partner countries, focusing on topics such as resilient industry, green and digitised production, digital emerging technologies and human-centred technologies. The programme makes regular sector specific funding calls, including for topics such as digital health where UK SMEs are invited to collaborate with European businesses, research organisations and academic partners in order to enhance digital activities. Any businesses taking part can take advantage of the new enhanced processes developed by collaborating with leading experts from across Europe.
What Are Some Current Funding And Support Opportunities Available For Digital Projects?
i) Made Smarter Adoption Programme – North West
This scheme from Made Smarter provides match funding of 50% worth up to £20,000 for manufacturers based in the North West of England to spend on equipment and specialist advice to implement digital smart manufacturing projects. Support programmes, such as digital transformation workshops and leadership development training are also available.
ii) Go Digital Accelerator at Staffordshire University
Businesses can apply to be part of a fully-funded 16 week accelerator provided by Staffordshire University that can assist them in adopting digital and advanced technologies, including robotics, AI, 3D printing, virtual and augmented reality, big data and sensor technologies.
iii) Business Digital Grant from Inverclyde Council
Businesses in Inverclyde can apply for a grant worth up to £2,500 in order to enhance their digital presence by building a website, e-commerce platform or implementing new digital systems to assist their staff in taking their business fully online.
iv) High Impact Grant from Digital Enterprise
Businesses in West Yorkshire can receive grant funding worth up to £35,000 on projects costing between £25,000 and £100,000 relating to transforming processes to digital and can include developing bespoke software solutions, integrating systems to automate tasks and adopting new technologies, such as innovating with Augmented Reality (AR), Virtual Reality (VR) or AI to improve productivity.
v) Digital Catapult: Quantum Technology Access Programme
The Digital Catapult provides support for businesses looking to use the applications of quantum computing for their industry, as well as helping them to upskill their workforce, build valuable partnerships and drive innovation. Support includes access to quantum computing technology as well as training and masterclasses and networking opportunities.
Success Stories Where Businesses Received Funding For Digital Transformation
i) Data Innovator Awarded £75,000 Grant
Techstart Ventures and the Digital Catapult have awarded Rubik Technologies, a manufacturing support consultancy, a grant worth £75,000 in order to help further develop its data driven solution Data Mule that helps improve performance for mid-sized manufacturers by using business intelligence.
ii) Honey Manufacturer Awarded £20,000 Smart Manufacturing Grant
Just Bee Honey from Trafford Park, Manchester which makes flavoured and vitamin infused honey products has received funding worth £20,000 to convert manual production of products to automated smart manufacturing technologies. The honey manufacturer received support from the Made Smarter North West Adoption Programme, including a digital roadmap to how to enhance their manufacturing capabilities followed by the match funding grant to help implement it.
iii) West Lothian Business Awarded £10,000 Digital Development Grant
Capital Power Clean Ltd was awarded £10,000 from West Lothian Council’s Economic Development Service as part of a Digital Development Grant that is backed by the UK Shared Prosperity Fund. The cleaning supplies company from Livingston used funding to help their business in a digital transformation project where they invested in a new innovative software system and to promote their cleaning products to a wider audience.
How To Apply For Digital Transformation Schemes
Full details about how to apply for digital transformation schemes and the eligibility criteria is available on each individual scheme page on the provider website. Different funding and support providers will specify a focus on digital transformation for businesses in the local regional area or have a particular industry sector focus. Any deadlines, funding amounts or how business support is funded and any required financial contribution from businesses will also be outlined on these pages. Interested businesses can speak to funding and support managers in charge of operating each scheme who can guide them through requirements and eligibility criteria to see if the digital funding or support is a match with their needs and help them to apply. There are also application forms and other supporting guidance available on scheme pages as well.
Want To Find The Latest UK Digital Transformation Opportunities?
If you want to see the full set of UK digital transformation funding and support currently available, please visit https://getbusinessgrants.com/
