Small businesses doing more to improve productivity than blue-chips
Small businesses are doing more to fix the country’s chronic productivity problem than giant blue-chip companies, according to official figures.
Companies with fewer than ten employees have experienced the fastest productivity growth of any business group since 2009, the Office for National Statistics said.
Better productivity is key to rising living standards and higher wages but growth has virtually flatlined since the recession, leaving Britain a fifth less efficient than France and Germany. However, the ONS analysis showed that the problem was more concentrated among larger firms than smaller ones
While productivity among smaller companies is on the up big company productivity is stagnant and at the same level in 2014 as it was in 2008.