Cheriton Blog

Big companies and academics can help the UK economy by supporting SMEs to become more productive…

  Andy Haldane, chief economist if the Bank of England, believes that even modest management improvements amongst complacent companies could lead to an overall productivity leap.   The FT recently reported the success story of a four-decade-old glassworks at Cumbria Crystal near the Lake District, where molten glass is still blown by mouth and where […]

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The apprenticeship…

As with the USA, improving the UK’s sagging productivity is a big economic issue. One of the issues is developing skills and SMEs are often happy to help support this by taking on apprentices. However, currently such employers have to pay full wage for the 2 days a week or so that apprentices are at college (less […]

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Where do we need humans…?

With currently demonstrated technologies available today, McKinsey estimate that in the USA at least, 60% of all occupations could see 30% of their constituent human activities automated…   This is higher in workplaces involves performing physical activities or operating machinery in a predictable environment. In this environment workers carry out specific actions in well-known settings where […]

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“Most car-owners believe they are above-average drivers, most companies might well believe they have above-average levels of productivity”…Andy Haldane, Bank of England

  Unfortunately, according to the Office of National Statistics in February 2016, “The U.K.’s ‘productivity gap’ of about 14% is about twice as large as the gap for the rest of the G7”   Quoted in the FT, Ann Francke, chief executive of the Chartered Management Institute (CMI), said one problem is that in the […]

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For the world, the times they are a-changin’…

Despite the rise of populism, the economic scorecard for the last 50 years hasn’t been that bad under the old liberal regime, where half the people who have ever lived, live now. Some extracts from the International Monetary Fund’s (IMF) report  “A World of Change” below:   The world population grew from 3 billion in 1965 […]

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The post truth productivity challenge to the British economy…

As we have said before, productivity isn’t everything, but in the long run it is almost everything…this was Nobel prize-winning economist, Paul Krugman’s statement that a country’s ability to improve its standard of living over time depends almost entirely on its ability to raise its output per worker hour. As Martin Wolf points out in today’s […]

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The government has at last set out measures to increase transparency of payment practices to support small firms. Clear legal sanction for non-compliance is now needed.

Large companies will be required to publish details on how quickly they pay their suppliers, under draft regulations released on 2 December 2016 by Small Business Minister Margot James. This is part of a package of measures to tackle late payment, which will also include the appointment of a Small Business Commissioner From April 2017 […]

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Stop late payments, save 50,000 small businesses…

This is the call from the Federation of Small Businesses (FSB), which has found that existing policy interventions have had no discernible effect on tackling problems around the UK’s poor payment culture in the last 5 years. Small businesses report that, on average, 30 per cent of payments are typically late compared with 28 per […]

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Access to finance; Productivity; HOT SMEs and Schrodinger’s cat…

Access to finance. The British Business Bank (BBB) comes under fire for its lack lustre performance in providing effective routes to finance for SMEs.  Barry James, writing an open letter to chancellor, Philip Hammond in Real Business points out that 99% of companies are SMEs and they employ half of employed people outside government. He […]

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Construction supply chain payment charter published; it’s now time for the retail sector to follow suit and introduce their own charter for prompt payment…

  Last month the government’s Construction Leadership Council published a new payment charter for the construction supply chain. Signatories to the new Construction Supply Chain Payment Charter (CSCPC) will ensure that payments are made to their supply chain not more than 45 calendar days from the end of the calendar month in which the work […]

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