Abstract

This report provides a comprehensive examination of how standards – in their important role as diffusers of technology and promoters of efficiency in businesses – have impacted UK economic growth. The report and underlying study were commissioned by the British Standards Institution (BSI). The report examines the economic contribution of standards from two angles: an empirical analysis of the macroeconomic impact of standards on the UK economy, updating a previous study published by the DTI in 2005, and a micro-level analysis on how the use of standards and participation in the standards development process produce financial and other benefits for individual companies. The micro-level analysis combines a survey of 527 UK companies (referred to in this report as the BSI Standards in Industry Survey), in-depth interviews and case studies covering seven key sectors to provide evidence on how standards benefit companies.

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