Three years of innovation has occurred in the space of just three months due to lockdown, according to a new report.
More than half a million businesses have changed or are altering their operating model, with a fifth of those surveyed by “Be The Business” introducing new services.
Be The Business chief executive Tony Danker, who joins the CBI as director-general in November, said that the innovation seen over the past three months was “testament to the tenacity and latent entrepreneurial spirit of British business in the face of hostile economic conditions”.
He credited the innovation of businesses for the early signs of an economic recovery, saying that the study “shows that a quick and strong recovery is down to the choices that business owners make in the next few months. We must give them cause to choose ambition over fear.”
However, the report highlights continuing concerns from businesses about