Entrepreneurs’ Forum Chairman Nigel Mills comments on GDP Estimates
Posted on the 26 July 2017
Nigel Mills, Chairman of the Entrepreneurs’ Forum, which represents more than 300 high-growth North East businesses with a combined turnover in excess of £2.3 billion and more than 23,000 employees, commented on today’s estimate of 0.3% GDP growth between April and June, saying: “While this is not the level of GDP growth achieved after the country pulled out of the last financial crisis, considering the unexpected political and economic variables of the day, they can be interpreted positively.
“By supporting scale-up businesses, and those with high growth potential, the Government could bring about a boost in economic growth that would return growth to its pre-referendum levels, perhaps even exceed it. If just 1% of businesses were to scale up it would add an estimated £225 billion to the UK’s economy, which would be particular positive for the North East where jobs and growth are most needed.”