Unlocking UK Productivity

Call for More Small Business Support As UK Productivity Flatlines

Call for More Small Business Support As UK Productivity Flatlines

Increasing support for small and medium business exports and innovation could be the answer to Britain’s low productivity levels, research by the Enterprise Research Centre (ERC) and the British Business Bank (BBB) has found. According to the report, entitled Unlocking UK Productivity, if an estimated 110,000 small and medium-sized firms had the support to expand overseas they could add £1.15bn in Gross Value Added (GVA) to the economy. The findings from the report follow recent news about Britain’s ‘productivity gap’; whereby Britain’s productivity levels have almost ceased to grow since 2008 causing the UK to fall 6% behind other G8 economies. The government published a 15-point plan in July to try to tackle the productivity issue, however, the ERC’s report said boosting small businesses... »