Small-Medium Enterprises and Their Impact on the UK Economy

This presentation discusses small-medium enterprises (SMEs) and their impact on the UK economy, including income opportunities, job creation, and innovation. It also explores the concept of intrapreneurship and its importance in public and corporate organizations. The presentation provides examples and recommendations for companies to train intrapreneurs and foster innovation.

Unit 9 Entrepreneurial Ventures
PART 2

Introduction
 Entrepreneurship ventures means a company that places innovation and great opportunism
so that it can help produce social value or economic benefits.
 As we all know that in today's business world, small business deal with established goods
or services, while on the other side entrepreneurship ventures just concentrate on using
new and advanced innovative offerings which can benefit economic situation.
 Due to this small business owners needs to keep them updated and may deal with known
risks and entrepreneurs have to face risks which is unknown to them.
 The presentation will be based on small-medium enterprises and its impact on the
economy of the UK.

Small medium enterprises (SMEs)
 An independent firms which is non subsidiary can employ fewer than a given numbers of
staff members in the organizations. There are 5.6 million SMEs in the UK provides major
opportunities for the betterment of people.
 As we all know that business environment is different across countries and everyone must
know that before learning about SMEs.
 SMEs are those organizations where designating 250 employees can work
effectively for achieving business goals such as grocery stores, small shops of food items,
garages and local restaurants.
 This type of organization generate less revenue in the market and can easily operate
business with less than a certain level of workforce with having fewer assets.

The impact of SMEs on the UK economy
Job creation
Income opportunities Improve living standard
of people
Encourage small
businesses
Substantial rise in
income generation
Increase GDP
promote innovation
Develop skilled workforces

continued…
 As we all know that small medium enterprise creates job opportunities with having less
workforces as compared to big companies.
 Due to skill shortages, the company may face issues such as risk management, handling
workforce, lack of resources etc. nowadays, companies are more focused on developing
training and development for workers so that it can enhance the skills and knowledge.
 By using this effective strategy, SMEs are creating value and generates lots of
opportunities for people who want to make career growth which support Economy a lot.
 The major benefit of small businesses like small restaurant, garages and parlours can
enjoys flexibility working.
 The key benefits of small businesses are the ability to develop and maintain close and
strong relationships with clients and customers

Intrapreneurship with examples
 The intrapreneurship used to foster the autonomy and independence by attempting to find the
better solutions for work.
 This is basically termed as the system that makes the employees to act same like the
entrepreneurs in the company.
 The intrapreneurs are self-motivated, action- oriented and proactive persons that has the
leadership skills which make them to thinks and have better ideas.
 One of the best example of intrapreneurship is Dream Work Animation which used to have bets
animation intrapreneurs to achieve goals in the market.

The importance of intrapreneurship
engage employees
Growth and development
Innovation

Conclusion & recommendation
 Recommendations
• It is recommended to the companies to have intrapreneurs that help to do the proper work.
• Further it is also suggested to the companies that to train the intrapreenurs which helps
them to do innovation.

Continued…
 Conclusion
• From the above presentation it is concluded about the meaning of small- medium
enterprise by stating some examples of SME’s.
• Further this report has evaluated about the impact of the small-medium enterprises on
the economy of the United Kingdom.
• The presentation has also described about the intrapreneurship by stating the examples
of it. At last this presentation has described about the importance of intrapreneurships
in the both public and corporate organizations

References
 Blanka, C., 2019. An individual-level perspective on intrapreneurship: a review and ways
forward. Review of Managerial Science. 13(5). pp.919-961.
 Alam, M. Z., Nasir, N. and Rehman, C., 2020. Intrapreneurship concepts for engineers: a
systematic review of the literature on its theoretical foundations and agenda for future
research. Journal of Innovation and Entrepreneurship. 9(1). pp.1-21.
 Gawke, J. C., Gorgievski, M. J. and Bakker, A. B., 2019. Measuring intrapreneurship at the
individual level: Development and validation of the Employee Intrapreneurship Scale
(EIS). European Management Journal. 37(6). pp.806-817.
 Mittal, S. and et.al., 2018. A critical review of smart manufacturing & Industry 4.0
maturity models: Implications for small and medium-sized enterprises (SMEs). Journal of
manufacturing systems. 49. pp.194-214.