A recent report has shown just how productive the UK’s small and medium-sized businesses are and some areas of the country are streets ahead of others.
Looking through the data in The State of Small Business: Putting UK entrepreneurs on the map*, the most productive parts of the UK are over 25 times more effective than the least productive parts.
The City of London, the nation’s financial centre, is top of the list with £1.45 million generated per worker. West Somerset, a largely rural area including both a national nature reserve and a national park, produces the least turnover per worker.
London also takes the second and third spots in the top ten with Lambeth & Westminster plus Southwark coming in at number 9.
As a region, the south of England has the highest rate of productivity per worker in the whole of the British Isles.
However, that top ten slot for our Surrey hometown shows that Woking works for SMEs. Since 2010, small and medium-sized enterprises have created 73% of private sector jobs.
What’s more encouraging is that Woking, where we are headquartered, is in the top ten most productive places, where the average worker accounts for £274,000 of turnover in a year.
One challenging point to come out of the study, conducted by innovation foundation, Nesta, and the IT company, Sage, is that the gap between the most and the least productive areas is a potential “productivity gap” that could be holding back the country as a whole.
On the flip side, by identifying the areas that are in need of a boost, efforts can be focused on providing extra improvements. In some areas, poor infrastructure may be holding back business. In others, there may be problems with a lack of workforce skills.
Here at Clever Marketing, we’re keen to help local firms improve their productivity and we can do that in a number of ways:
Basically, if you lack the in-house skills to drive your business forward, we are the perfect partner to be an extension of your company. We are your are designers, we are your printers, we are your digital marketing agency.