SME group launched to take on UK productivity gap

posted by 5 months ago in News
SME group launched to take on UK productivity gap

Several UK business leaders have joined forces together to form an organisation with goals set to take on the productivity gap in the UK. During a meeting with the governor at the Bank of England, Mark Carney the group discussed and highlighted their commitments to help SMEs throughout the country.

The group is led by Sir Charlie Mayfield, the chairman of the John Lewis Partnership, joining him are a number of business leaders such as;

James Steward – KPMG’s vice chairman & head of Brexit

Steve Varley – EY’s charman

Carolyn Fairbairn – Director-general of the Confederation of British Industry

Amongst faces from Amazon, Accenture, BAE Systems, GSK, Rolls-Royce, McKinsey & Co, BT Group, Nestle, the British Museum, Siemens and Cisco.

Part of the groups commitments is offering advice through a new digital platform, a mentoring programme for SMEs which is aiming to be launched nationwide during this year.

The group has also assigned 100 mentors to the productivity via a people education programme in their next board meeting which will be hosted by chancellor, Philip Hammond.

Mark Carney comments;

“UK productivity has severely under-performed since the financial crisis, resulting in a lost decade for real incomes and a lower speed limit for the economy. Reviving productivity growth is critical for the UK’s long-term economic prosperity, and part of the answer lies in spreading best practise across a much wider range of firms.

“Be the business are playing a key role in achieving that, helping businesses to identify and implement ways to improve their productivity.”

Sir Charlie Mayfield also shares;

“Getting our business to improve their performance to the same level as our international competitors is the biggest economic challenge we face as a country. The UK’s businesses have the solution in their grasp. That’s why we’re building a movement that will recruit tens-of-thousands of companies across the UK to ensure we’re match fit to compete post-Brexit.”

Managing Director of Businesscomparison.com also shares his views;

“Most business owners are going through experiences for the first time. To have some help and support is invaluable for SME’s to help make the right decision. This will create more efficient and productive businesses in the UK. What a great organisation I wish it the best of luck in helping as many businesses as possible.”