Unlocking the potential of innovative firms

The UK is an increasingly hospitable environment in which to start a new firm, and many entrepreneurs are availing themselves of this opportunity.

The country's highly favourable regulatory framework, well-developed capital markets and world-class science base are all preconditions for success in many important and emergent sectors of the economy.

Yet the UK has produced no 'gorillas' - innovative new firms that grow rapidly into world-leaders, such as Microsoft and Google.

UK contract enforcement is relatively poor, damaging vital business relationships. And a culture of amateurism still prevails in attitudes to management.

Government should use policy to address these weaknesses thereby unlocking the innovative, high-growth potential of the UK's small firms.

Published
March 2008

Author
NESTA

Report
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