A report out this week, commissioned by UK Trade & Investment, claims that businesses that export boost their productivity by up to one third.
According to the research, carried out by Richard Harris and Q Cher Li, of the University of Glasgow, companies that export are 11.4 per cent more likely to survive than if they do not. The report also attributes 60 per cent of UK ‘productivity growth’ from the period 1997-2003 to exporting firms. The design sector is included in the report under ‘business services’.
Commenting on the report, Trade and Investment Minister Ian McCartney says, ‘It is clear that working in global markets gives companies an opportunity to up their game. This research demonstrates that work involved in committing to export and entering the international marketplace is rewarded in increased productivity, stronger business performance and more secure jobs.’
The report follows announcements by the UKTI that it plans to recruit up to 30 design groups in an initiative – China Design Strategy – that will forge creative links between China and the UK.