Entrepreneurship: Impact of Small Businesses on UK Economy

This presentation examines the impact of small and micro businesses on the UK economy, highlighting their role in local communities, regional development, and national economic growth. It emphasizes the importance of small businesses and start-ups in diversifying the business environment and fostering economic advancement through innovative activities, job creation, and community development. The presentation also underscores how these enterprises contribute to improving the quality of services, promoting creative ideas, and enhancing the overall image of the country by educating the population and increasing market share. The resources mentioned in the presentation are available for further study on Desklib, a platform providing tools for students.

Entrepreneurship and Small
Business Management

Table of contents
• Introduction
• Impact of small and micro businesses on UK economy
• Importance of small businesses and start-ups to the
growth of UK economy
• References

Introduction
This presentation is about the impact of small and micro
businesses on the economic condition of UK. In
addition to this, it also explains how starts ups
venture are important for the growth of United
Kingdom.

Impact of small and macro business on UK economy
The impact of macro and small businesses on the economy of UK
are listed below:
Impact on local communities: Macro or small enterprise led a
positive influence on the local people. This is creating a large
number of employment and aiding in improving the economic
conditions of society.

Cont..
Regional impacts: Regional areas gets also impacted due to
small or micro-enterprise. Those corporate which are being
started are providing direct opportunities of job to local or
regional people.

National or international impact: This also positively impacts
the national or international economy by generating more ratio of
jobs . Such business are associated with innovative activities.
Cont..

Importance of small businesses and start-ups
to the growth of UK economy
Small business and start-ups can be proving to be very effective
to the growth and development of UK economy. It proves to be
very successful and diversifying business development and
strategies of business environment.

Cont..
Small business and enterprise provide certain plans, policies,
approaches, tactics, stratagems and schemes for the better
development of UK economy. Following are the points in which
how small business and start-ups diversify the growth and
development of UK economy :
• It advance and progresses the logistics of the UK economy.
• It substantiates its assurance to quality and provides best
quality of services to UK economy.

Cont..
Some other importance of small businesses or start up on the
growth of UK economy are listed below:
• Small or medium organization aids in developing more
opportunities of employment. They are providing job to
people living in UK and are increasing the life style and
standards of those people. It has been analysed that they
are offering around 65 % jobs in private sector while 86 %
of the work force.

Cont..
• Such business are adopting creative or unique ideas that are
attracting a large number of citizens towards them. These
businesses have vast growth in the terms of production,
processes and innovation.
• Small-medium enterprises are taking or adopting creative
or innovative ideas that draw the attention of clients,
investors or stakeholders. As this is done by more number
organizations so competition has been increased.

Cont..
• These businesses are also contributing in the development
of local communities by generating more jobs for them.
They now do not need to migrate to other nations or states
in search of job.
• They also do a lot for the improvement of society by
giving them financial resources. This also made a new
image of country as all population get educated and
contributing in the market share.

References
Hoof, F. and Nandram, S., 2012. Female entrepeneurship; a new
perspective for entrepeneurship and the implications for
entrepeneurship education. HAN Business Publications,
pp.27-42.
Arpin and et.al., 2016. Everybody on board? New insights into
Boundary Organizations from the construction process of the
IPBES. Ecology and Society. 21(4). p.11.
Bjerregaard, T. and Lauring, J., 2012. The socially-dynamic
entrepreneurial process: an anthropological approach.
International Journal of Entrepreneurial Venturing. 4(2).
pp.132-147.