How much would this cost?

by Enrique Mendizabal

Cost

Staffing cost for the hub would be the most significant expense but the staff would also be charged with developing the products and services offered to the centres thus keeping costs down.

An estimate of staffing costs for a London based hub is £200,000 per year. (The London base provides a higher limit estimate.)

The team would based in public spaces such as the Royal Festival Hall which would demand a subscription charge of £60 per year per person: £240.

Laptops for the team could cost up to £6000 for at least 4 years.

Communications, travel, subscriptions, etc. could increase the budget by another £30,000 to £40,000 once an initial set of think tanks has been identified.

In total, then, the hub could cost about (and up to) £250,000 per year.

Value for money

For £250,000, the hub would develop management, research and communication tools useful for all think tanks (hence in the event that the initiative had to close down, the tools would still be useful for non-members); it could support the development of at about 5 new think tanks every year (which is an equivalent of £50,000 per think tank); and it would produce new content on how to set up think tanks, new digital tools for think tanks, and other insights into the world of think tanks that will be shared publicly to benefit others.

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