The Government has launched a nationwide review with a focus on encouraging businesses to take up new technologies, such as cloud accounting and e-purchasing.<\/p>\n
The Business Productivity Review forms part of the Government\u2019s Modern Industrial Strategy to increase productivity and business profits.<\/p>\n
It says the review will help \u201cbetter understand\u201d the factors affecting the productivity of UK businesses in an effort to generate some \u00a3100 billion of \u201cuntapped benefit\u201d for the economy.<\/p>\n
It will look at how firms of all sizes can take advantage of technologies, new management practices and business support services, and assess why uptake of certain technologies has been so low.<\/p>\n
The Government has a particular interest in encouraging the use of cloud accounting technology, given that it wants to transform the tax system into a completely digitised service sometime in the near future. The first stages of this plan, known as Making Tax Digital, are poised to go into effect from April 2019, after which date businesses earning more than the VAT threshold will be expected to report VAT digitally.<\/p>\n
Business Secretary Greg Clark said: \u201cFor centuries Britain has been a nation of discoveries, but these ideas haven\u2019t always been commercialised in the UK and new ideas applied in practice.<\/p>\n
\u201cNow our modern Industrial Strategy is ensuring that firms across the UK can take advantage of leading technologies and management practices, potentially adding \u00a3100 billion to the economy and boosting people\u2019s earning power right across the country.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
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