Lord Young, who met LUMS students and entrepreneurs in residence before addressing guests at the celebratory dinner, said: “There has never been a more attractive time to start a business in the UK, but if we are to keep fleet of foot in the world ahead, then the only way to achieve that is to encourage an entrepreneurial culture in this country and to start more small firms in an economic shift – with this management school helping lead the way.”

Since 1999, LUMS has worked with more than 3,000 small and medium-sized companies (SMEs) – many of which are located in the North West of England. The School’s Department of Entrepreneurship, Strategy and Innovation, which offers the bulk of this business support, draws on academic research to inform its programmes.

Professor Sue Cox, the LUMS Dean, said: “This event is part of the University’s 50th Anniversary celebrations. It marks fifteen years of intensive support for SMEs, and it recognises that, in 2013, we won a special prize from the Economic and Social Research Council in its inaugural Celebrating Impact Awards. 

“Since the School was founded we have focused on conducting high-quality research, education and business support and this event gave us an opportunity to thank a large number of the wide-ranging companies and professionals we have been working with during this period.”

The evening concluded with the presentation of awards to a number of business owners, strategic partners and students who have made particular contributions to the work of LUMS.

Beyond its strong regional profile, Lancaster University Management School has a growing national and international reputation.

As well as running a suite of business support programmes, the School is overseeing the £32 million  programme which will support regional economic growth across 15 city areas in England. The Wave 2 Growth Hub programme is funded through the Regional Growth Fund.

The School is also involved in the Lancaster China Catalyst Programme that will help forge links between UK SMEs and businesses in China, leading to mutual economic growth.

Helping small business grow

The ESRC featured the LEAD programme as one of their impact case studies in March 2014.