Role of SME's in the UK Economy

This presentation explores the concept of SME's and their importance in the UK economy. It discusses the growth and financial contribution of SME's, factors that stimulate or halt their development, and their role in contributing to the national economy. The presentation also includes case studies comparing the impact of SME's in different regions, industries, and EU countries.

ENTERPRISE AND SMALL BUSINESS
MANAGEMENT

CONCEPT OF A SME
• SME or small and medium sized enterprises are defined by businesses Which have the employee
capacity of less than 50 with an annual turnover of not more than £10 million. These businesses can be
sole proprietorship, privately owned or even partnership. UK government delivers many beneficial
grants to the small businesses in order to support the growth and stability and increase their
contribution towards U.K.’s economy.

GROWTH AND FINANCIAL CONTRIBUTION
OF MICRO, SMALL AND MEDIUM PRIVATE
ORGANIZATIONS TO THE UK ECONOMY.
• Small and medium businesses play an important role in order to enhance the convict development in
UK.
• As per the market research of Britain survey 2018, the small scale companies enhance economy by
increasing the export opportunities and increasing the GDP.
• The SME businesses enhances the economy by creating opportunities of export and Increasing rate of
export.

FACTORS THAT MIGHT HAVE EITHER
STIMULATED OR HALTED THE
DEVELOPMENT OF SME’S IN THE COUNTRY
SME Growth stimulators
• The government of UK formulate different approaches in order to deliver help to the SME businesses
by giving them both financial and other business support.
• The government of UK have also formulated favourable policies in order to support the growth of
SME businesses in UK and enhance the economic development of the country.

CONTI…
SME growth barriers
• There are different factors that hinders the growth of SME businesses including lack of access to
finances, increasing competition, weak institutional support, these are some factors that negatively
impacts or hinders the growth of SME in the country.

ROLE OF SME’S AND ANALYZE HOW THEY
CONTRIBUTE TO THE NATIONAL ECONOMY
Compare the impact of SME’s for two UK regions
Regions Eastern shore of Loch Lomond Greater London
Impact Oak tree Inn is a small and medium
business situated in Balmaha, Loch
Lomond, UK. It delivers hospitality
services to its customers. These includes
delivering accommodation services, food
and drinks, sightseeing and other tourism
services. It is an award-winning SME
organisation that contributes towards
economy of UK by generating
employment, Promoting the cultural and
traditional values of the launch moment in
our global platform.
Freshways is a SME situated in London,
UK delivering dairy products to the
customers. The company promises to
deliver pure milk and no added chemicals
and other preservatives in the dairy
products which enhances the living
standard of the people in UK.

CONTI…
Compare the impact of SME’s for the UK using two different industries
Industries Food Tourism
Impact Mornflakes is a SME organisation situated in
UK operating in food industry it delivers
organic oats to its customers. The organisation
Enhances the social value and the living
standards in UK by delivering healthy food
products to the customers.
Verdant leisure is a SME based out of UK.
operating in tourism industry, it delivers
services to the customers of holiday parks,
carbons and lodges across Scotland and
northern England. It is an award-winning
SME that positively contribute towards U.K.’s
economy by generating revenue and
enhancing the GDP, it reflects the cultural and
heritage value of the country in a global
platform.

CONTI..
Compare the impact of SME’s for two EU countries
Countries France Germany
Impact Doctolib is a SME organisation Headquartered
in France that delivers online booking of
specialist doctors. It delivers social value of
providing free access of doctors’ appointments
and helps to find a medical solution to the
patients irrespective of their location. It
enhances the social standard of people living in
France.
Research gate is a SME headquartered in
Berlin, Germany. It delivers academic solutions
with scientific knowledge, it is a social
networking site where in students and
researchers can find relevant information. It is
an innovative approach that encourages and
satisfies the social values of delivering free
education and knowledge to students. The
organisation also generated funding of 87.6
million USD.

REFERENCES
• Bogdanova, S.V. and et.al., 2016. Management of small innovational enterprise under the conditions of
global competition: possibilities and threats.
• Hameed, W. U. and et.al., 2017. Combination of microcredit and micro-training with mediating role of
formal education: A micro-enterprise success formula. Journal of Business and Social Review in
Emerging Economies. 3(2). pp.285-291.
• Järvi, T., 2015. Production of entrepreneurship in small business activities of students. Journal of Small
Business and Enterprise Development.
• Kull, T. J., Kotlar, J. and Spring, M., 2018. Small and medium enterprise research in supply chain
management: The case for single‐respondent research designs. Journal of Supply Chain
Management, 54(1), pp.23-34.

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