Ending the Monoculture – How Diversity Of Business Can Bring Prosperity

This report, supported by the Alex Ferry Foundation, reveals the UK suffers from a business monoculture - an economy dominated by firms that primarily exist to maximise profits, whose short-termism restricts national economic performance. The research reviews evidence from the five largest economies in Europe and found that the UK is an outlier, with lower levels of investment and employment in the social economy. Social enterprises and cooperatives deliver 14% of GDP in the Netherlands, 12% in Germany and 10% in France, but our social economy is only worth around 3%.  Our European peers with bigger social economies enjoy higher wages, more training and greater representation at work – while the UK struggles with weaker economic performance and lower working standards. Analysis shows that growing the UK social economy from 3% of GDP to 12% could raise wages, boost investment, increase employee participation and productivity amongst other things.