Lifting the Trophy builds on evidence that fast-growth firms, known as ‘scale-ups’, were the difference between recovery and recession between 2010-13.
The report has revealed that manufacturing is one of the sectors with the highest concentrations of productive businesses.
Offering a tip on how to improve productivity, Alan Courts, finance director of Rittal, says in the report: “Employees involved with the technical manufacturing side of the business are encouraged to reflect on how they’ve solved issues that week and how processes could be improved. This 30-minute of period of self-reflection is a commitment we’re looking to roll out across the business.”
Based on data from companies across the UK and interviews with over 30 scale-up businesses, the report highlights new research on the impact of scale-up businesses on UK productivity and profiles their insights and strategies into raising competiveness and efficiency within firms.
The report highlights that a small number of entrepreneurial firms make a large contribution to UK productivity. Scale-up firms, in particular those rapidly increasing sales, have higher productivity rates:
- In 2013, 4% of firms contributed 17% to total UK productivity
- Between 2012 – 2015, over 18,500 businesses rapidly scaled-up their turnover – 650 of these were mid-market firms
- Within the scale-up community, highly productive firms are twice as common
- 8 out of 10 of the UK’s most productive businesses are located outside London
Through interviews with scale-ups across the UK, the report shares practical insights into boosting productivity on a range of different issues – from adoption of technology to employee engagement.
