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Technology boosts business competitiveness

'Levelling the playing field' is a phrase often uttered by businesses which feel unfairly outshone by competitors.

But what happens when getting level depends on the postcode of your playing field?

We've published the results of research which aims to answer that question;

Regional Attitudes to Growth and Competitiveness, featuring analysis from Professor Robert Huggins, Director of Economic Geography at Cardiff University.

And it seems that over half (57 per cent) of the 600 business people we interviewed believe that technology is one of the key drivers that ensures their region can compete, a view that increases in some of Britain's more rural regions.

Professor Huggins outlines the thinking behind our report:

"As the UK economy continues to grow and emerge from recession, there is a very real concern that new growth is concentrated in and around London, to the detriment of the rest of the UK's SMEs.

"Regional economies are reliant on their stock of SMEs to generate the wealth and jobs required to develop and maintain high standards of living and reputation."

While technology is a major factor in ensuring SMEs can secure business beyond their region's borders, SMEs still estimate that they lose an average of 244 working days a year travelling.

This is likely to be a factor in why 37 per cent would consider expansion into a new region to improve competitiveness and 50 per cent would consider making greater use of remote working opportunities.

Our report also examines how competitive each region in the UK feels compared to five years ago and asks businesses if moving to London would improve their ability to compete in a specific market.

Download the report and see how your region shapes up here.

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