Explaining the rigour and reason behind the way we model a firm’s or sector’s economic contribution and impact.
Understanding the value a business or sector contributes to the economy can be a compelling way to underpin an argument or business case for policy change.
Whether you’re talking about economic impact or economic contributions, both essentially describe a business or sector's gross value added (GVA) to the UK economy – and that is the income generated which can be re-spent or reinvested in the economy.
To calculate this we typically look at their financial, employment, and procurement data. We use this information to estimate how much money and how many jobs they create directly and indirectly.
Our in-house CBI Economics model looks at the connections between a business or sector and other parts of the economy. This helps us see how their activity and spending affect other businesses and people. Unlike others in the market, we opt for a "bottom-up" approach that relies on a business or sector’s data through data collec
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