Wednesday, April 22, 2015
Small businesses in the UK continue to be less productive compared to other countries, according to a report by the All Parliamentary Small Business Group.
The group’s findings complement recent research by the Federation of Small Businesses that shows that UK productivity levels are 17% lower than the average across the G7.
The parliamentary group has recommended 7 measures to help boost small business productivity levels:
- simplifying the business tax system and incentivising investment
- increasing access to high quality, affordable broadband
- investing in regional growth to connect regions
- supporting the knowledge transfer between higher education and the private sector
- increasing apprenticeships and funding for workplace training
- encouraging more businesses to bid for public sector contracts
- helping more businesses to export through targeted finance.
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