General Information
Project description
Small businesses were sent behaviorally-informed emails encouraging them to apply to the Growth Vouchers program.
A key part of the Department for Business, Innovation and Skills’ (BIS) remit is to provide support to small businesses in the United Kingdom. BIS has explored a number of initiatives to help these businesses grow.
One of these initiatives was ‘Growth Vouchers’ – a program of matched funding with a £30 million budget. Businesses could apply for funding to help subsidize the cost of obtaining expert advice on topics such as finance, HR, use of IT in business processes, or increasing productivity by advancing the skills of their leadership teams. However, the number of applications to the Growth Vouchers program was lower than anticipated.
(Source: B-Hub)
Detailed information
Final report: Is there a final report presenting the results and conclusions of this project?
Hypothesis
How effective the use of different behavioral nudges (Incentives, Social Norms, Deadline, Chosen) delivered by email would be in encouraging more applications to the Growth Vouchers Programme.
How hypothesis was tested
RCT over small businesses randomly assigned to one out of five conditions (Control, Incentives, Deadline, Chosen, Social Norms)
Dependent variables
Click-through rates
Sample Size. How many observations will be collected or what will determine sample size?
Over 376,000 small businesses who were signed up to the HM Revenue and Customs’ email distribution list.
United Kingdom
London
Who is behind the project?
Project status:
Completed
Methods
What is the project about?
Date published:
25 June 2021