Research & Policy

Unlocking UK productivity: internationalisation and innovation in SMEs

This report, co-authored by Goldman Sachs, the Enterprise Research Centre (ERC) and the British Business Bank, shows that Britain’s productivity is falling behind other economies because it is failing to turn ambitious smaller firms into exporters of innovative new products and services.
With more support, it is estimated that up to 110,000 small to medium-sized enterprises (SMEs) could become regular exporters, adding an extra £1.15 billion in Gross Value Added (GVA) to the economy in the first year alone in the form of new and higher value jobs. 

The report calls for greater support and education for entrepreneurs, citing the success of programmes such as the Goldman Sachs 10,000 Small Businesses programme in creating an environment where business owners can learn from mentors and peers over a significant time period.