Business Productivity Review: Chartered ABS responds
The Department for Business, Energy and Industrial Strategy (BEIS) has asked for evidence on the firm-level interventions that can support growth and improve productivity of small businesses. The Chartered ABS supports the government’s focus on improving productivity and shares the belief that this would be most effectively addressed by improving the management and leadership capability of UK businesses. However, it should be recognised that the productivity metric is only one measure of the value generated by a business and that growth potential varies significantly by firm.
Interventions aimed at boosting productivity are more likely to be effective if they are targeted at firms with high growth potential and the business support programmes run by UK business schools represent compelling case study evidence as to the growth in revenue and employment that can be achieved via a targeted approach. There is potential to achieve even greater levels of impact if the government was to support a national scaled-up programme focused on improving the management capability of high-growth potential SMEs, utilising the trusted network of business schools accredited with the Small Business Charter.
Our official response can be downloaded here.