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SME Impact on UK Assignment

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Added on  2021-02-21

SME Impact on UK Assignment

   Added on 2021-02-21

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SME Impact on UK Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 2............................................................................................................................................1Concept of SME..........................................................................................................................1Role of SME and contribute in global economy.........................................................................4SME impact on UK by Retail and Construction ........................................................................6CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
SME Impact on UK Assignment_2
INTRODUCTIONA project is an activity to meet the initiation of a specific product or services andactivities covers to achieve day to day activities which can not be defined into projects. It is greatopportunity for a company and individuals to accomplish objectives of business as well as nonbusiness (Siskind and et.al, 2013). It help us make changes as per the requirement and organizeeverything in proper manner to deduct probability of failure. SME is a term of businesssegmenting where other businesses somewhere among the small office home office. A businessconsultant wants to widen of their client so prepare a report where includes concept of SME,growth and financial contribution of micro, small and medium private organisation. Additionally,analysis of different factors that affect to development of the country. TASK 2Concept of SMEThe small and medium size enterprise is that type company where work about 250 staffmembers and engage with the world's most economies. It is considering as major source ofentrepreneurial skills, innovation and employment. The globalisation process affect by thesecompanies and often advanced with particular difficulties and problems (Concept of SME.2019.). 1
SME Impact on UK Assignment_3
Financial contribution of micro, small and private organisation into UK economyOn the basis of statistics perform that Britons are introducing new enterprises in everyyear. On the basis of 2016 there were about 5.5 million business from private sector, up by97000 since 2015. The main reason to define increase in in granted business start-up loans andgrants. The large majority of businesses in the UK are small and medium businesses, where mostof the project less than to 250 staff members on the basis of European union standards. From lastthree years, 60% SME enterprises take fund from external sources (Tomlinson and Fai, 2013) . It is understand that small companies play essential role for the development of theeconomy. They are helping to develop job and apply new innovation ideas regarding to differenttypes of products. As per the UK alone, they account for 99.3% of all private sector business inthe starting of 2016 and 99.9% were small or medium size. It is getting that total employmentabout in SMEs however was 15.7 million and 60% of all private sector employment in the UK.The annual turn over in combined manner of SMEs was 2.0 trillion which is about to 52% of allprivate sector turnover. SME contribute to get growth in financial level because they areproviding employment to local people and invest money so as a result increase GDP of country. 2
SME Impact on UK Assignment_4

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