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New report outlines business led solutions to raising productivity
The CBI, in partnership with Lloyds Banking Group, the ScaleUp Institute & Aston Business School, has launched a new report, Lifting the Trophy, profiling scale-up insights into raising productivity within firms.
Lifting the Trophy builds on evidence that fast-growth firms, known as ‘scale-ups’, were the difference between recovery and recession between 2010-13.
Based on data from companies across the UK and interviews with over 30 scale-up businesses, the report highlights new research on the impact of scale-up businesses on UK productivity and profiles their insights and strategies into raising competiveness and efficiency within firms.
The report highlights that a small number of entrepreneurial firms make a large contribution to UK productivity. Scale-up firms, in particular those rapidly increasing sales, have higher productivity rates:
- In 2013, 4% of firms contributed 17% to total UK productivity
- Between 2012 – 2015, over 18,500 businesses rapidly scaled-up their turnover – 650 of these were mid-market firms
- Within the scale-up community, highly productive firms are twice as common
- 8 out of 10 of the UK’s most productive businesses are located outside London
Through interviews with scale-ups across the UK, the report shares practical insights into boosting productivity on a range of different issues – from adoption of technology to employee engagement.
For more information, please contact roxanne.morison@cbi.org.uk
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