Assessing SME's Impact on the UK Economy: A Comprehensive Report

This report provides a comprehensive analysis of the impact of Small and Medium Enterprises (SMEs) on the UK economy. It defines the concept of SMEs, evaluating the growth and financial contributions of micro, small, and medium private organizations over the past five years, including the influence of political and economic factors such as Brexit. The report examines the role of SMEs in the national economy, comparing their impact across different UK regions (North East vs. London) and industries (Retail vs. Manufacturing), and provides a comparative analysis with Germany and France. The report also differentiates between the roles of entrepreneurs and managers, providing a case study of Steph Croft-Simon, and identifies the skills and characteristics of successful entrepreneurs, including the application of the Big-5 Model and Maslow's pyramid. It also identifies the impact of education, financial status, and demographic factors on entrepreneurial success. The report concludes with recommendations for business consultants to help their existing and potential clientele, highlighting the importance of SMEs in the UK economy.