NCEE has worked with Universities UK to analyse the impact universities can have on the UK’s economic and social recovery.

Universities have a major role to play in supporting the UK’s economic and social recovery and are already contributing.  Over the next five years we estimate that universities will provide:

• £11.6 billion of support and services to small enterprises, businesses and not-for-profits. This includes specialist advice, access to the latest facilities and equipment to develop innovative products, and conducting bespoke research projects.
• 63,600 years’ worth of training, upskilling and professional development.
• Over 21,000 new spin-offs, social enterprises, and graduate and staff start-ups.

Our higher education sector is innovative, enterprising and entrepreneurial and can drive our productivity, job growth and help us compete on the world stage.  By working in partnership in our regions and communities, universities will advise and support businesses to grow and thrive, provide a skilled workforce and create new businesses.

Our three steps to recovery are for universities to:

• Grow high-quality jobs – both by being significant local employers and creating opportunities in the local economy
• Create new companies and start-ups – helping new businesses to start up and grow
• Help business growth and increased competitiveness – offering further training, advice and support.

We look to the UK government to fund and support partnerships between universities, businesses, colleges and local authorities for more training, start-up support and business development. By enabling universities to work with their communities and regions to build local economic and social recovery, we will be at the heart of levelling up.

Our analysis for Universities UK shows the tremendous impact of higher education, and how it will aid social and economic recovery in the UK.  The contribution of our universities is vital to this country. By working with government, local and combined authorities, businesses, colleges and charities we can build back better.

Over the next few weeks NCEE will be running a series of articles showing how universities are getting results and what they are doing to accelerate our recovery.  The first in the series will see James Ransom (our Head of Research), who authored the report, delving further into the numbers.