Importance of Small Businesses & Start-ups to the Growth of UK Economy

This presentation provides a detailed overview of the contribution of micro and small businesses to the UK economy over the past three years, highlighting their crucial role in local, regional, national, and international development. It emphasizes the importance of small businesses and start-ups as the backbone of the UK's business culture, driving economic growth, providing employment opportunities, and fostering innovation through competition. The presentation concludes that small business enterprises, constituting over 95% of operating firms, are vital for the economic development of the United Kingdom, supported by statistical data and references to relevant sources.

Entrepreneurship and Small
Business Management

Table of contents
• Introduction- slide 3
• Contribution of micro and small businesses to the U.K
economy in the last three years- slide 4-5
• Role of small firms and their contribution to the
economy at local, regional, national, regional and
international levels- slide 6
• Importance of small businesses and business start-ups to
the growth of the UK economy.- slide 7-8
• Conclusion- slide 9
• Reference list- slide 10-11

Introduction
This presentation will provide information and
statistics that will help in elaborating about
the impotence of small scale industries on the
economy of United Kingdom.

Contribution of micro and small businesses to the U.K economy in the last
three years
The economy of United Kingdom is highly
influenced by the growth and development of
small business enterprise. These firms are
essential in order to help and encourage the
start up business that is essential for economic
development; they are helpful in development
of various entrepreneurial qualities.

Contd..

Role of small firms and their contribution to the economy at local, regional, national, regional and international
levels
• Local development: As the number of small
scale, businesses are increasing at a rapid rate
it assists in providing employment
opportunities to the citizens of the country.
• Regional developed: Small-scale business
require a very low investment capital and
possess the capability of spreading across
various provincial areas.

Importance of small businesses and business start-ups
to the growth of the UK economy
Small business enterprises are considered as the
backbone of United Kingdom business culture as they
help in economic growth, provides job to the local
citizens, and help in opening new markets for the
business opportunities, thus they are vital part for the
economic development. These firms promote and
encourage competition that helps in generating new
innovative ideas, which will allow the organizations to
manufacture and introduce enhanced services and
products for the local communities of UK.

Contd..
It is observed that more than 95% of the firms
operating belong to the small, business scale
group. This is considered as most creative
zone and the entrepreneurs have a very high
scope of growth and development.

Conclusion
This report helps in understanding about the
small business enterprises. The benefits of
these businesses on the economy of United
Kingdom can be understood with the help of
statistical data.

Reference List
• Statista.com (2018). Average profit of UK SME, by size 2014-2016 | Survey.
[online] Statista. Available at:
https://www.statista.com/statistics/291299/average-profit-of-smes-in-the-
uk-by-enterprise-size/ [Accessed 2 Jun. 2018].
• Businesscasestudies.co.uk. (2018). The importance and benefits of small
businesses today - The importance of entrepreneurship in small businesses
- NFTE-UK | NFTE-UK case studies and information | Business Case Studies.
[online] Available at: https://businesscasestudies.co.uk/nfte-uk/the-
importance-of-entrepreneurship-in-small-businesses/the-importance-and-
benefits-of-small-businesses-today.html [Accessed 2 Jun. 2018].
• Fsb.org.uk. (2018). Small Business Statistics. [online] Available at:
https://www.fsb.org.uk/media-centre/small-business-statistics [Accessed 2
Jun. 2018].

Contd..
• Business Loans UK | Business Funding
Solutions. (2018). Why SME Growth Is
Essential To Great Britain | Boost Capital.
[online] Available at:
https://boostcapital.co.uk/business-growth-
uk-infographic/ [Accessed 2 Jun. 2018].

Thank you