Impact of SMEs and Intrapreneurship on the Economy: A Report

This report delves into the crucial role of Small and Medium Enterprises (SMEs) and intrapreneurship in the UK economy. It highlights the significant impact of SMEs on economic growth, job creation, and innovation, emphasizing their contribution to the development of society. The report defines intrapreneurship and explores its importance in both public and corporate organizations, showcasing how it fosters competitive advantages. It further differentiates between public and corporate intrapreneurship, examining their unique characteristics and similarities. The analysis includes advantages and disadvantages of SMEs, and the report concludes by summarizing the key contributions of SMEs, including their role in encouraging entrepreneurship and providing employment opportunities. The study also evaluates the difference and similarities between corporate and public Intrepreneurship in context with innovation.

Developing Entrepreneurial
skills
section 2

Table of content
 Introduction
 Impact of SMEs (small medium enterprises) on the economy
 Define: Intrapreneurship
 Importance of intrapreneurship in both public and corporate organization
 Difference between public and corporate intrapreneurship and similarities
 Conclusion

Introduction
 Developing entrepreneurial skills plays a vital role in this business environment.
 To be successful entrepreneurs develop their skills and knowledge that can thrive within
larger organizations.
 The presentation will be based on small-medium enterprises in UK which is developed in
various types of sectors.
 The study will provide details on economic impact of SMEs and Intrapreneurship.
 Furthermore, it will highlight how Intrapreneurship creates competitive advantages in both
corporate and public sector.

Impact of SMEs (small medium enterprises) on the economy
 As we all know that start up company and SMEs plays a vital role in the success of
economy. Total employment in SMEs was 16.3 million.
 They are main indicators of an economic development of a country. With the development
of SMEs there is a development of society of a country.
Economic
growth Job opportunities Compete with
big companies
Have potential to
gain competitive
advantages
Boost exports
and innovation

Continued..
 SMEs contribute to employment 8.75 million people in the UK.

Continued…
Particulars Share
SMEs in the UK provides of jobs to people 45.18%
Small enterprises contribute almost 48% of GDP
Export shares of SMEs in US is almost 36%
Total employment in SMEs 16.3 million
In England export share is 27%

Continued..
 Disadvantage of SMEs
As we all know that SMEs has to face some challenges, their dependency on innovation is
creating continuous pressure to innovate and create new options as per the need of
customers.
Depend on innovation
Need a supportive environment

Intrapreneurship
 Basically it is entrepreneurship in an existing company. It is easier for an individual than
entrepreneurship, the reason behind that is it has the full support of an existing firm.
 It acts like an entrepreneur in the existing firm and also create a new business in the firm.
In many cases that business becomes new department of the company, new section or you
can say any subsidiary is created.
 Intrapreneurs play a very vital role in the company's success as they are responsible for
innovation and developing new strategy in the existing company.
 With the help of their skills like communication skills, management skills and leadership
skills they work effectively for the development of innovation within an existing
organization.
 By having skills like problem solving skills, self management and also critical thinking
skills, Intrapreneur helps organization to manage any kind of change.

Importance of intrapreneurship in both public and corporate
organization
It helps companies generates new business growth
in the competitive world
Support and sustain innovation for the betterment
of economy
Helps to attract and retain entrepreneurial leaders
which is beneficial for the success of business.

Difference between public and corporate intrapreneurship
and similarities
Public intrapreneurship Corporate intrapreneurship
 Public managers act as intrapreneurs in the way
they take business related risks with an
opportunities bias for the achievement of
innovations.
 NHS company aim to create value for citizens
living in the UK by bringing together unique
combination of resources and achieve internal
change for the betterment.
 Intrapreneurs here encourages employees to use
creative processes that enable them to invest
more on technologies and apply it for
performing better.
 Corporate company like centrica plc focus on
innovative activities which includes
improvement in products or services,
competitive postures, new strategy development
and focusing on external and internal
environment and any change related to it.

Conclusion
 To conclude, The contribution of small businesses and medium size company is generally
gathered under main topics which includes economic growth, flexibility, adopting new
technology, developing innovation and encouraging entrepreneurship among people.
 From the study it has been concluded that Among all these features of SMEs the most
important one is their contribution to job creation and providing good employment to
people living in the countries.
 The study has also evaluated details on difference and similarities between corporate and
public Intrepreneurship in context with innovation.

References
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