We must crack the code on productivity for the UK to catch other G7 economies

London, 11 January 2023: data published by the Office for National Statistics today on international comparisons of productivity show that the UK remains behind most of the G7.

Responding to these figures, Anthony Impey, CEO of Be the Business, an organisation which champions small business productivity, said:

“These figures confirm that the UK remains behind other leading nations in the productivity race. But, while we’ve trailed for over a decade, it’s not an intractable challenge.

We often refer to the UK’s lagging productivity figures as a “puzzle” - but we can crack the code and close the gap by inspiring businesses to work more efficiently.

Research has shown time and time again that improving management capability and successful technology adoption through investment and training can transform a business’s productivity outlook.

That’s a difficult message to land with business leaders facing some of the strongest economic headwinds in memory, but we can’t afford to put off decisions that could change the UK’s current economic narrative from one of strife to a tale of growth and prosperity.

In 2023, every business leader should challenge themselves to identify at least one process they can improve, or an opportunity for growth they can pursue.”