Lessons to be learned from business clusters – UK report

As this editor gets regular requests for survey data and forecasts, it would be a shame not to make readers aware of Industrial revolutions: capturing the growth potential, a recent 92-page report commissioned by the Gatsby Foundation from a partnership of Centre for Cities and McKinsey. Lord Sainsbury has written the foreword.

The report focuses on the lessons to be learned from clusters because:

1. Clusters are a major contributor to growth. The 31 economically significant clusters identified in this report contain 8% of the UK’s businesses, but generate 20% of UK output (gross value added).

2. Clusters are important sources of well-paid jobs. The United Kingdom’s top 31 economically significant clusters together employ four million people – one in seven of the working population – and they offer average salaries that are typically higher than those in the surrounding region.

3. Clusters bring business advantages that cannot easily (more…)