£2.5billion return on investment for British business

For more information about Standards visit the British Standards Institution (BSI) website at www.bsi-global.com Bullet-point

For more information about Accreditation visit the United Kingdom Accreditation Service (UKAS) website at www.ukas.com Bullet-point

For more information about the Department for Trade & Industry's (DTI) work in promoting innovation visit www.dti.gov.uk/innovation Bullet-point

For more information about the work of the Confederation of British Industry (CBI) visit www.cbi.org.uk Bullet-point

For the first time, research by the DTI reveals the full extent of the contribution of standards to UK Plc. New research reveals:

Standards make an annual contribution of £2.5billion to the UK economy.

13% of the growth in labour productivity is attributable to British Standards.

Standards are an enabler of innovation and international technology transfer.

Foundation for growth

Standards increase profitability by streamlining business efficiency and providing a framework for sustainable growth. In fact, standardization is a powerful tool for business. Participation in the process hones competitive advantage and profitability, offering a central role in shaping the market itself.

The benefits of standardization include:

Bullet-point Support for innovation and increased market access.

Bullet-point Greater efficiency, profitability and productivity.

Bullet-point Reduced risk and legal liability.

Bullet-point Demonstration of market leadership.

Involvement in standards development allows an organisation to lead the way for industry, increasing sales and market size.

Opening doors to business on a global scale

Standards application promotes interoperability and streamlines regulatory conformity. Compliance allows an organisation to:

Bullet-point Meet regulatory responsibilities in the most flexible, efficient and appropriate way.

Bullet-point Communicate effectively along the supply chain and with legislative bodies, clients and customers.

Bullet-point Lead the way with standards geared to the requirements of the market.

Bullet-point Have greater input into regulatory processes.

This greater emphasis on self-regulation allows businesses to meet regulatory obligations without compromising their own requirements of adaptability, efficiency and relevance, opening doors internationally to UK business.

Business and product differentiation

Conformity to recognised standards is becoming increasingly pivotal as businesses seek to demonstrate responsibility and awareness of consumer concerns. Standards allow business to:

Bullet-point Show commitment to ethical practice.

Bullet-point Cite independent verification of quality and performance.

Bullet-point Send potent messages to consumers and competitors.

Involvement in standards development makes a bold statement about how an organisation views the performance and future of its industry.