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techUK is excited to announce its latest report, Small Enterprises, Big Impact.

techUK has today unveiled a report highlighting the immense potential for growth and productivity through better digital adoption support for UK SMEs. We call on the UK Government to act now and follow our 12 month roadmap for SMEs digitisation. This will help in the ambition to become the fastest growing economy in the G7. 

Small Enterprises, Big Impact is structured as both a review and reflection on previous and ongoing policy interventions, including Help to Grow: Digital and Making Tax Digital, and outlines a range of policy actions that the Government can enact within the next 12 months.

The policy actions are informed by industry. They aim to tackle key challenges faced by SMEs, including access to finance and skills, and take steer from international examples of best practice.

Click to download the report

Key recommendations 

We provide a 12-month roadmap for the Government to incentivise SME digital adoption. Key areas of focus include:  

• Co-ordinating a cross-departmental and industry led Forum and appoint a Minister responsible for digitisation across the economy. 
• Delivering a comprehensive digital adoption plan with clearly defined targets by 2030, focusing on the right underpinning infrastructure, regulation and skills needed to succeed. 
• Expanding the Made Smarter Adoption programme to all sectors of the economy. 
• Committing to digital adoption growth opportunities, including supporting the next stages of Open Banking’s evolution and SMEs carbon reporting for net zero.

With the UK being ranked fourth on the Global Innovation Index 2023, we now stand at a pivotal moment ahead of the upcoming Budget and Global Investment Summit. By prioritising digital adoption for SMEs, the UK can harness its existing strengths to drive future growth, innovation, and sustainability. The potential impact is significant: enhanced digital adoption could add an impressive £232 billion to the UK economy, while also preparing businesses to thrive in an AI-driven future. 

Artificial Intelligence (AI) is projected to boost UK GDP and bring huge benefits for UK businesses. AI is not only a tool exclusive to or digitally intensive businesses, but an enabler of productivity and competitiveness for all businesses. However, it will first be deployed through updates to currently in use business software, meaning that if UK businesses are behind on basic digital adoption, they will soon be behind on AI adoption as well. Enhancing SME digitisation support is crucial for securing our international competitiveness and fully capitalising on the economic opportunities that AI offers.

Click here for the full press release