Article:

How can SMEs be more productive?

Written by CMI Insights Wednesday 04 May 2022
Which specific training and development interventions would bring the most benefit for small and medium-sized companies? CMI gathered a group of CMI Companions to tackle the question head-on
A business owner sending off orders

Small and medium enterprises (SMEs) make up the majority of businesses around the world – over 95% – and are a vital source of job creation, accounting for around 90% of employment in some countries. 

However, the productivity gap between small and large companies is becoming more of a productivity chasm, according to McKinsey. Boosting the productivity of the UK’s five to six million SMEs could add up to £100bn to the country’s economy, for example.

The latest roundtable discussion for CMI Companions dug into this topic, exploring how smaller businesses can boost their productivity.

Anthony Impey MBE, who chaired the discussion, is CEO of Be the Business, a not-for-profit organisation set up in 2017 to help address the UK’s productivity challenges. He says that there are two major things that can help: improving businesses’ adoption of technology; and improving their leadership and management capabilities.

Keep reading to discover our Companions’ insights on how to boost productivity in SMEs

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