"Understanding which sectors are expanding helps businesses allocate resources effectively and identify growth opportunities. According to recent Office for National Statistics data, the health industry exhibited the highest percentage growth rate at 4.3% in 2024, whilst other human health activities contributed 2,000 new businesses. Meanwhile, businesses in professional, scientific, and technical activities continue to dominate the UK industry, representing 14% of all enterprises."
"Digital transformation has moved from optional to essential. Research shows that artificial intelligence was adopted by 9% of UK firms in 2023, whilst cloud-based computing systems and applications were adopted by 69% of firms. However, adoption varies by management quality. For instance, firms in the top decile of management practices were far more likely to implement advanced technologies than those in the bottom decile."
Sustainable growth requires strategic alignment of business objectives with evolving market conditions and long-term thinking to navigate uncertainty, capitalise on opportunities, and build resilience. Understanding sectoral shifts enables effective resource allocation; health grew 4.3% in 2024 with 2,000 new businesses in other human health activities, while professional, scientific, and technical activities represent 14% of UK enterprises. Organisations that monitor market trends can position themselves in high-growth sectors and avoid contracting industries such as transport and storage. Digital transformation is essential: AI adoption reached 9% of UK firms in 2023 and cloud systems reached 69%, with higher adoption among firms with superior management practices. Strategic integration of automation, data analytics, and AI improves efficiency and competitiveness, and selecting technologies based on operational challenges supports broader business objectives. Implementing sustainable practices is identified as a complementary priority.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]