Knowledge Centre
27th August 2009
Business leaders have highlighted 'cleantech' industries as the fastest-growing sector of the economy over the coming decade.
The survey, commissioned by the department for Business Innovation and Skills, found UK business leaders pointing to so-called cleantech - products and services that seek to increase efficiency, while cutting pollution and energy consumption - as the fastest growth sector by 2020.
More than four in 10 (43%) executives from the 307 firms taking part in the online poll said they thought cleantech will grow at the fastest rate of any sector by 2020, with another 20% pointing to science and technology, and 13% naming the media and entertainment.
According to the department, the survey highlights the potential for relatively new parts of the economy to thrive in the recession.
However, it also admitted that increasing awareness and investing now in innovative sectors which have the potential for quick growth will provide "essential" relief to the economy as it recovers from the current downturn.
As part of the drive to recognise achievement across the technology sectors, the Government is using the results of the survey to draw attention to its newly-launched iawards, touted as the first Government-backed awards to celebrate advances by firms in science, innovation and technology.
Science and Innovation minister Lord Drayson said: "Cleantech and renewables will play a huge part in helping the UK economy to grow more sustainably, but we need to do more to encourage innovation in these and other high-tech sectors."
However, SME business owners are more concerned with the nuts and bolts of skills training and health and safety than with green issues, according to a study commissioned by UK200Group, an association of accountants and lawyers who work with SMEs.
The Business and the Environment[/url] report found that while more than 80% of businesses thought "environmental issues should be a high priority", when asked which areas were of vital importance to their own business, green issues lagged far behind skills, health and safety, improving sales and reducing costs.
IMAGE AP Photo/Marcio Jose Sanchez
'Cleantech' tipped as fastest-growing sector
The survey, commissioned by the department for Business Innovation and Skills, found UK business leaders pointing to so-called cleantech - products and services that seek to increase efficiency, while cutting pollution and energy consumption - as the fastest growth sector by 2020.
More than four in 10 (43%) executives from the 307 firms taking part in the online poll said they thought cleantech will grow at the fastest rate of any sector by 2020, with another 20% pointing to science and technology, and 13% naming the media and entertainment.
According to the department, the survey highlights the potential for relatively new parts of the economy to thrive in the recession.
However, it also admitted that increasing awareness and investing now in innovative sectors which have the potential for quick growth will provide "essential" relief to the economy as it recovers from the current downturn.
As part of the drive to recognise achievement across the technology sectors, the Government is using the results of the survey to draw attention to its newly-launched iawards, touted as the first Government-backed awards to celebrate advances by firms in science, innovation and technology.
Science and Innovation minister Lord Drayson said: "Cleantech and renewables will play a huge part in helping the UK economy to grow more sustainably, but we need to do more to encourage innovation in these and other high-tech sectors."
However, SME business owners are more concerned with the nuts and bolts of skills training and health and safety than with green issues, according to a study commissioned by UK200Group, an association of accountants and lawyers who work with SMEs.
The Business and the Environment[/url] report found that while more than 80% of businesses thought "environmental issues should be a high priority", when asked which areas were of vital importance to their own business, green issues lagged far behind skills, health and safety, improving sales and reducing costs.
IMAGE AP Photo/Marcio Jose Sanchez
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