Solving the UK’s productivity puzzle

Brexit is not the only challenge the country faces.

Over the last couple of years, the Government has launched major work streams into the financing of innovative firms (the so called Patient Capital Review) and has also consulted upon and introduced an Industrial Strategy.

Newable has engaged actively on both of these topics, making positive submissions to ensure that the voice of businesses at the heart of the economy is heard.

Underpinning everything however, is the UK’s patchy economic growth and lagging productivity performance.

In fact, Andy Haldane, The Bank of England’s Chief Economist believes that, “the UK faces no greater challenge, economically and socially, than its productivity challenge”.

This challenge is felt to be most acute for the so called “long tail” of UK businesses, the vast majority of which are SMEs. As a result, much work is being undertaken in policy development circles to address this issue.

Once again, Newable has been active in responding to various evidence gathering initiatives launched by the Government and the BEIS Select Committee.

Productive Thinking analyses the issues and presents pracitcal solutions that will get the gears of enhanced productivy in the UK economy turning again.

This thinking is grounded in rich real wold, real time, qualitative evidence gleaned from the 15,000 smaller and medium size companies we work with each year.

Newable is calling for SMEs to be granted access to the tools that drive business productivity. namely, access to opportunities created through public and corporate supply chains, access to finance and access to the right kind of business advice.

The document can be downloaded here