Helping to drive UK Productivity
Productivity not only impacts the success of individual businesses but is also vital to the success of the UK economy.
It enables businesses to become more effective and efficient, supporting higher wages and economic growth.
The world is rapidly changing for British businesses, with many industries adopting automation and disruptive technologies to remain competitive. Productivity remains an important measure of success.
UK productivity fell by
after two previous quarters of zero growth in 2019 Footnote1
Stagnant productivity costs workers an average of
a year. Footnote2
Our Partnership with Be the Business
We are working with Be the Business to help companies across the UK to improve their productivity and boost their performance. The not-for-profit organisation has already helped more than 200 businesses.
Through the partnership, we’re providing access to funding, research and tools to help businesses better understand, measure and increase productivity.
A focus on productivity delivered a huge positive impact for Cumbria Crystal. Be the Business’ Productivity through People programme allowed the firm to benchmark its productivity and identify a number of small but meaningful improvements.
Focusing on productivity has delivered a major positive impact for Cumbria Crystal. I was able to benchmark my business using tools on the Be the Business site and identified a number of small but meaningful improvements. A big focus has been working with staff to get things right first time and everyone was encouraged to think of new ways to make savings or increase productivity.
Chris Blade, Managing Director, Cumbria Crystal.
One of the ways businesses can improve productivity is by employing apprentices to grow and develop the critical skills they need to prosper.
At Lloyds Banking Group we see first-hand the benefits of apprenticeships, and we’re one of the first big employers in the UK to make funding available to help smaller businesses realise these benefits too.
By supporting the costs of training, we’re helping businesses to recruit and train apprentices, which creates opportunity for improved productivity, performance, resilience and competitiveness.
Helping Britain Prosper
At Lloyds Banking Group we're committed to helping British businesses prosper.
We recognise the importance of helping businesses to improve productivity and the difference this can make. That’s why we’re proud to be the first financial services provider to partner with Be the Business.
Find out more about how we're supporting businesses.