Lord Young published his Department of Business, Innovation and Skills (BIS) report on how government support for start-ups and small business development could be improved last week.


The report suggests that there are tremendous opportunities for entrepreneurs and new businesses despite the volatile economic climate. Moreover it suggests that SMEs perform well even when the economy doesn't, citing that in 2010 there was one new business started every minute.


Within its recommendations the report outlines the growth of technology enabled business, home based working and the importance of business incubators. The report uses Epiphany's story as an example of best practice when it comes to business incubation.


Epiphany was founded in 2005 at Leeds Metropolitan University and now employs over 80 people in Leeds and London. Epiphany grew its revenues from management fees by 54% in the last financial year, a figure of just under £5 million.


One of Epiphany's founders, Non-Executive Director Robin Skidmore is quoted in the BIS report, "QU2 allowed us to establish ourselves within an incredibly competitive market by giving us a firm foundation to grow the business from. The support that projects like Leeds Met's QU2 provide is invaluable for entrepreneurs."

See the BIS full report here