Originally written by Timothy Adler on Small Business
Britain would boost its economy by £83bn if regional productivity gaps were just halved.
Only London and the South East outperform the national productivity average, with Wales, the East Midlands and Yorkshire and the Humber the lowest-productivity areas.
If the 10 most under-performing regions could each make up just half their productivity gaps with average UK productivity, then UK GDP would be 4pc larger, according to PwC.
>See also: Small Business Minister Kelly Tolhurst – ‘Tech is key to solving productivity’
Employees working in small businesses account for 99.9pc of all business workers, while SMEs account for 99.3pc of all companies.
British output per worker though is between 10pc-15pc lower than it is in Germany, France and Sweden and more than 30pc behind the United States, PwC said.
Matching Germany’s average productivity would boost the economy by £180bn. per year.
Companies need to invest in staff training schemes, especially whe it comes to digital skills, PwC urged, while the next Government must invest in transport infrastructure.
John Hawksworth, chief economist at PwC, said: “We find, for example, that a 1pc increase in skills is associated with a 2pc increase in productivity in a local area.”’
Britain has suffered a lost decade when it
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by Dan Matthews • • 0 Comments
Originally written by Dan Matthews on Small Business
Flexibility
Half a century ago workplaces were static uninspiring floors with bosses metering out hard and fast rules. We’ve come a long way since, but some businesses are evolving faster than others. Allowing people to work in their own way will drive up loyalty, productivity and retention rates.
James Lintern, Co-Founder at RotaCloud:
“At RotaCloud, we recently formalised and extended our flexible working policy, with our core hours now set to 10-3:30pm.
“In other words, most staff can start their eight hours of work at any time from 7:30am to 10am, whatever works for them. Early birds and night owls both benefit, with an extra productivity boost first thing in the morning and last thing in the evening when the office is a little quieter.
“We’ve also been able to extend our support hours as a result of this policy, offering an improved service to our customers. A member of our marketing team has even written an article on the benefits of this policy.”
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by Owen Gough • • 0 Comments
UK business output is now at the point of contraction, according to the latest Business Trends Report by accountants and business advisers BDO LLP. The new report reveals BDO’s Output Index – which indicates how businesses expect their order books to develop over the next three months – has fallen to 94.9 in June from
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