THE FEW UK businesses which are owned internationally punch above their weight in terms of value added to the economy, according to information released yesterday.
Although less than one per cent of the UK’s millions of firms are foreign-owned, they make up more than a quarter of gross value added, according to new statistics.
The figures, which the Office for National Statistics (ONS) drew attention to as part of its annual business survey, show the make-up of the UK’s companies in 2011.
Businesses owned internationally are more likely to be large, accounting for 28 per cent of firms that employ more than 250 people.
By sector, production accounts for the largest contribution to value added. Foreign-owned firms which make products in the UK – Nissan, for example – contribute 46 per cent of value for the sector.
The largest proportion of value added comes from firms owned in the Americas and the rest of Europe, which account for 39.7 per cent and 49.8 per cent respectively.
In comparison, Asia adds just 7.9 per cent of value.