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05 July 2017

Small businesses are economic game changer after fall in productivity

RESPONDING to a 0.5% fall in UK labour productivity over Q1 2017, Wilfred Mitchell, FSB Northern Ireland Policy Chair, said:  

“Throughout the UK, two thirds of small firms are not planning to increase capital investment over the next three months. One in seven are planning to decrease investment levels. No doubt some are delaying decisions as they wait for further clarity on the implications of Brexit and in Northern Ireland; economic and political stability.

“All the evidence indicates that small business productivity gains would be an economic game-changer. To achieve that boost, the Government has to deliver on its promise of an ambitious industrial strategy with clarity on how this will be rolled out in Northern Ireland and the other devolved nations. It’s a strategy that must have small firms at its heart, supporting them in supply chains, clamping down on late payments and improving their ability to access to finance.”    

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