Ungated Post | 15 Nov 2018

Boosting Local Business in the UK

Small and medium-size enterprises (SMEs) report that improving banking and business services could improve their productivity by 10%, delivering a £70 billion boost to the UK economy.

Small businesses are the engines of economic growth and prosperity, fuelling local economies right across Britain. However the productivity of SMEs is lagging larger companies. The relationship between banks and SMEs has suffered in the years following the financial crisis. As new digital tools become available, SMEs need more business support and better value banking services. The potential benefits to the UK are substantial – a 10% improvement in productivity worth £70 Billion.

Read the full report.

Our economic consulting team are world leaders in quantitative economic analysis, working with clients around the globe and across sectors to build models, forecast markets and evaluate interventions using state-of-the art techniques. Lead consultants on this project were:

Oxford Economics’ team is expert at applying advanced economictools that provide valuable insights into today’s most pressing business, financial,and policy issues.

To find out more about our capabilities, contact:

Paul Donnelly
+44 (0)203910 8077

Diantha Redd
+1 (646) 503 3052

Peter Suomi
+65 6829 7198

Related Services


Delivering Value: The Economic Impact of the Civil Nuclear Industry

The study suggests the civil nuclear industry supports a £16.1 billion contribution to UK GDP, 211,500 jobs, and £7.1 billion in tax revenues. 24% occurs in the North West and 16% in the South West.

Find Out More


Innovation Index: Are You Prepared to Shift from Survival to Growth?

Oxford Economics and NTT Data fielded a survey of 1,000 North American business and IT executives in 2022 to uncover future strategies to mitigate disruption.

Find Out More


Reinventing for growth in a changing media landscape

Oxford Economics partnered with Accenture to survey 6,000 consumers around the world about their media and entertainment habits, experiences, and preferences.

Find Out More