Whilst the manufacturing sector in the UK has declined as the economy has become increasingly reliant upon services, it remains a significant part of the economy accounting for almost half of our exports and seventy percent of the UKs research and development (Oxford Economics.)
There are plethora of potential stakeholders who are attempting to engage SME’s in helping them improve their productivity.
For over 40 years the Knowledge Transfer Partnership (KTP) has been a successful part-government funded initiative that has contributed towards the growth of Research and Innovation in businesses across the United Kingdom.
The Business School and Lloyds Bank continued their collaborative research partnership with a second productivity roundtable event. The roundtable provided an opportunity to combine research, knowledge briefings and conversations about improving productivity.
The UK has been grappling with a “productivity puzzle”. For the government and Office for National Statistics (ONS) this is something specific. It is the slowdown (described as a downward deviation) of output per hour from its previous upward trend.
Politicians, commentators and economists have been vexed about productivity in the UK for some time. This has been referred to as the 'productivity gap', that is, the difference in productivity between the UK and a range of comparable economies, such as the G8, or the ‘productivity puzzle’, the change from 2008 onwards where productivity has flatlined in contrast to the historic upward trend.
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