Scale-ups offer ‘great prize’ to UK economy
Report on future of business scale-ups provides practical suggestions on how to overcome challenges.
- Report estimates that 1 per cent rise in scale-ups could deliver £225bn towards GDP by 2034
- Scale-Up Institute will work with private and public sector to help businesses achieve greater scale
- The report, from the business schools at the Universities of Cambridge and Oxford, is free to download
Barclays has launched a new report on the future of business scale-ups in the UK. This is the culmination of a partnership with the business schools of both the University of Oxford and the University of Cambridge and both institutions have made six individual recommendations designed to help the growth of UK businesses.
The report, Scale-up UK: Growing Businesses, Growing our Economy, gives practical insights and suggestions of what is needed to address the challenges start-ups face. Sherry Coutu, Chair of the Scale-up Institute, says that while she is encouraged by the UK’s efforts to nuture start-ups, we are only at the beginning of the journey.
'A huge prize is at stake. As the initial analysis conducted by Deloitte and Nesta shows – if we help to create in the UK just 1 per cent more scale-ups, 150,000 net new jobs could be in place by 2034 and an additional £225bn towards UK GDP could be spread equally throughout the country.'
The report was launched on 25 April 2016 by Sherry Coutu and Barclays’ CEO, Jes Staley, alongside both Universities and the Chair of the Scale-up Institute.
Jes Staley said he was delighted that Barclays had been able to contribute to this important piece of work, and that he would continue to focus on helping businesses achieve their ambitions.
'We know first hand many of the issues that entrepreneurs face on a day to day basis. We also know how important they are to our economy, and that by helping them achieve their ambitions, we can in turn drive innovation, jobs and wealth creation and strengthen our economy to the benefit of society.'
Find out how we’re supporting UK entrepreneurs.
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