Sport and Leisure Industry Economic Contribution

A report has revealed that the Sports and Leisure industry in the UK has the potential to create up to 440,000 new jobs by 2020.
The report, ‘State of the UK Leisure Industry: A driver for economic growth’ compiled by Business in Sport and Leisure (BISL) and Oliver Wyman suggests that this growing sector could be a huge asset in combating unemployment.
The report outlines for the first time the size, scale and importance of the Leisure Industry to the UK economy, including its role as a large employer. This sector now represents 9% of UK employment and provides over one in five of jobs for the at risk age range of 16-25 year olds, more than Manufacturing, Construction and Financial Services combined.
How to help the process
The report also concluded that some changes were needed to support this important sector, including:
– Appointing a ministerial champion for ‘Leisure’ at Cabinet level
– Reigniting employment amongst young NEETs (Not in Education, Employment or Training) through an employer tax incentive
– Adopting a more balanced fiscal and regulatory regime that reduces the £3.2 billion of extra costs currently holding back the Industry.
Industry Opinion
Industry spokesman and BISL chief executive Dominic Harrison said the industry will create li100,000 new jobs by 2014, providing a much needed boost to the economy. He added that sport and leisure is ‘a powerful industry,’ currently providing ‘over 4 million jobs.. ..contributes some £200bn – over 3 per cent of GDP – to the UK economy.’ This impressive figures have prompted optimism and
Some industry spokespeople have argued that Sport and leisure sector has the capacity to compensate for the job losses taking place in the public sector. This is provided that it is given the freedom to operate without reductive tax regimes and a reduced level of bureaucracy.
The sport and leisure industry remains one of the UK’s key growth areas, with some spokespeople calculating a further 100,000 jobs will be created by 2014.
These actions will assist the Sport and Leisure Industry in becoming a leading force in job creation and a positive addition to the future growth of the UK economy.
For information on how we can provide personalised insurance coverage for a huge range of sport and leisure facilities, contact us on 0161 300 6340, or use our contact form.

£1,000,000 competition Motorsport funding winners

The Universities and Science Minister David Willetts launched a £1,000,000 competition earlier this year to help small and medium sized enterprises (SMEs) drive motorsport technologies around the world.
In a step intending to stimulate the industry, technology Strategy Board’s latest ‘Launchpad’ competition gave UK businesses working as part of England’s Motorsport Valley, around Oxfordshire and the surrounding counties, the chance to compete for funding.
New Investment
The investment will allow businesses to develop new energy and emission efficient technologies that could be transferred into the pit lanes of famous races such as the Monaco Grand Prix.
The ‘Launchpad’ competition was launched at the British Grand Prix at Silverstone, with Universities and Science Minister David Willetts commenting that ‘The Motorsport Valley business cluster is a hotbed for innovation and a key driver for growth in the UK.’ Adding that ‘over 3,500 business employing around 40,000 people’ generati global sales in the area of 7 billion.
One of the winners
One of the winners of share of around £100,000 worth of funding is a Juno Racing Cars and EPM Technology collaboration. To combat increasing fuel costs and increasing environmental concerns, they have engineering the concept of vehicle “light-weighting.”
This offers added fuel efficiency by providing an reduction in vehicle inertia – less energy required to speed up, slow down or change direction. ‘Affordable Structural Composites’
The project aims to develop innovative manufacturing processes to make advanced composite structures a commercially viable choice for a new evolution of Juno’s successful sports prototype racing car. These plans are intended to be transformed into a road-legal track-day car in the future. As is often the case, it is likely that motorsport developments will enable such technology to trickle down into the mainstream of the motor industry in time.
To find out who else won a selection of this £1,000,000 worth of funding, click here for the full winners list.
Motorsport Insurance
We provide bespoke insurance coverage to the motorsport industry. Our wealth of experience over the motorsport world means we have experience in dealing with the entire canon of motorsport entities, like National Federations and Associations, Circuit operators, Events, Stadiums, Clubs, Teams, Equipment/Component Manufacturers, Promoters and Sponsors.
Projects like this can push the technology for motorsport forward – helping to develop further and assist a growing a important UK industry.