Enterprise UK was founded in 2004 by the British Chamber of Commerce, the Confederation of British Industry, the Institute of Directors and the Federation of Small Businesses, and Peter Jones is chairman.
It'll be a sorry loss for the British entrepreneurial scene.
So here's to Enterprise UK, all the fantastic achievements of the team there and of the people it's helped in the last six years, and to the impact it made on entrepreneurialism in the UK.
Now we'll pass you over to Enterprise UK CEO Tom Bewick, whose statement today explains more about what's happening and why.
I'm writing to update you about the position of Enterprise UK, following the government's decision to end our grant-in-aid funding from April 2011.
Since the announcement in December 2010, I have been working closely with staff, trustees and key stakeholders looking in detail at the implications of these cuts and the options for the charity to continue in some way post-April, albeit in a different guise. The proposals we considered included the establishment of a legacy organisation to take forward initiatives like Global Entrepreneurship Week and our various other enterprise education programmes.
Following a meeting of the Board of Trustees on 24th January where full consideration was given to all the options, we have decided to instigate an orderly wind down of the charity with immediate effect. We will still be delivering on some key operational activities like Tenner during March, but we also aim to have closed down our offices and activities by the end of April 2011.
Enterprise UK still has some modest assets, expertise and unrestricted reserves of approximately £0.5 million. Over the next few weeks we will be inviting similar charitable organisations to put in an Expression of Interest to continue some of the enterprise promotion work of EUK, including proposals for how they might use the gift-aid of £0.5 million once the organisation has been wound up. Our website will publish shortly details of how we plan to undertake a transparent, independent process for the disposal of these key assets.
If you would like to be reminded, once published, of this initiative then please register your interest with Rosie.Trelawny@enterpriseuk.org
Can I thank all those who have supported the organisation over the years, through many successful initiatives, to promote and encourage a more entrepreneurial society.
Tom Bewick, Chief Executive