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PP Control & Automation, with comments from Managing Director, Tony Hague, feature on Natwest’s ContentLive website, which aims to help you make better informed business decisions via the latest industry news, insight and analysis – straight from their experts and invited contributors.
The feature, ‘How SMEs can beat Britain’s productivity crisis’ looks at a number of strategies that business owners can implement to increase the value of their own and their employees’ work.
One of the biggest economic challenges facing the UK is productivity growth – or the lack of it. In his November Budget speech, chancellor Philip Hammond revealed that the Office for Budget Responsibility had downgraded its forecasts for productivity increases over the next five years.
Among the factors blamed for the flatlining growth has been a business reluctance to invest in new machinery and technology, as well as the decrease in infrastructure spending that followed the financial crisis.
But for individual SMEs, it is possible to buck the trend: there are a number of steps that business owners can take to both identify and address productivity gaps.
Read the full article here.