Free

Small Business enterprice - Essay Example

Comments (0) Cite this document
Summary
Though the definition of such companies vary from country to country and from industry to industry but predominantly, the companies that have work…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.3% of users find it useful
Small Business enterprice
Read TextPreview

Extract of sample "Small Business enterprice"

The Contribution of the Small Business Sector to the UK Economy The present world has witnessed increasing influence of the small and medium enterprises towards the development of the economies. Though the definition of such companies vary from country to country and from industry to industry but predominantly, the companies that have work force within the limit of 250 is considered to be small and medium enterprise. The growth and prosperity of the small and medium enterprises have been more felt in the developed nations as it is perceived that the success of such organizations contributed towards the success of the developed economies.
In the United Kingdom, the small and medium enterprises are the significant provider of jobs to the populace and it is upon the potential of such small enterprises, even the national government banks. In the country, such companies are not just perceived to be the job creators but wealth creators. Such organizations get optimum support of the government so that those could well prosper in to their ventures (Ariyo, 2008).
According to the data of 2002, in the United Kingdom 94.7% of all the registered business had employee strength of less than 10 and another 4.4% in between 10 to 49. The small enterprises provided more than 43% of the total jobs in the country. Another 11.9% workforce was employed by the medium enterprises (employee strength in between 50 to 249). The small and medium enterprises also had significant share in the total turnover as it contributed almost 52% of the entire turnover leaving other 48% to the large corporations (that had employee strength of 250 or more).
The industry of United Kingdom have always identified small and medium enterprises as the major source of growth and prosperity as it always generated significant share of employment. Way back in 1930, the industry of small and medium enterprises contributed with more than 35% of total employment. It experienced steep decrease till the sixth decade of the last century and remained almost stagnant for the next ten years at around 20%. Since 1970, the industry has again taken sharp rise and there has been no looking back. It is estimated that in the year of 2000, the sector provided more than 45% of employment to the population of the United Kingdom.
According to the Enterprise Directorate Analytical Unit of 2007 (provided by Department for Business, Enterprise & Regulatory Reform), the small and medium enterprises comprised 99% of the UK economy. The report also focused on the fact that 14.23 million of the workforce (out of total workforce of 30 million) works with SMEs. The sector of the economy also contributes approximately 1.48 trillion GBP towards the gross domestic product of the nation (Buzzle, n.d.).
With the increasing interference of the factors like technology, deregulation, labor supply and globalization in to the business fraternity, the trend of the market has been observed to be shifting towards the small and medium enterprises from that of the large organizations (Audretsch, Et Al, 2000).
Such trends are more prevalent in the market of the United Kingdom as it is fundamentally ruled by the small and medium enterprises.
References
Ariyo, D., 2008. Small Firms are the Backbone of the Nigerian Economy. Africa Economic Analysis. [Online] Available at: http://www.africaeconomicanalysis.org/articles/gen/smallhtm.html [Accessed 02 January 2010].
Audretsch, D. B., Carree, M. A., Van Stel, A. J. & Thurik, A. R., 2000. Impeded Industrial Restructuring: The Growth Penalty. Indiana University. [Online] Available at: http://www.spea.indiana.edu/ids/pdfholder/ISSN-01-2.pdf [Accessed 02 January 2010].
Buzzle, No Date. SME Value and Contribution to the UK Economy. Business & Finance. [Online] Available at: http://www.buzzle.com/articles/sme-value-and-contribution-to-the-uk-economy.html [Accessed 02 January 2010]. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Small Business enterprice Essay Example | Topics and Well Written Essays - 500 words”, n.d.)
Small Business enterprice Essay Example | Topics and Well Written Essays - 500 words. Retrieved from https://studentshare.org/miscellaneous/1561679-small-business-enterprice
(Small Business Enterprice Essay Example | Topics and Well Written Essays - 500 Words)
Small Business Enterprice Essay Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/miscellaneous/1561679-small-business-enterprice.
“Small Business Enterprice Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/miscellaneous/1561679-small-business-enterprice.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Small Business enterprice

Enterprice system

...? ENTERPRISE SYSTEM goes here] [Your goes here] [Due the paper] Answer No a) Client-Server Model The word client-server refers to an accepted model for networking of computer systems that makes use of server and client devices which are designed for their respective purposes. The client-server model is used both in local area networks and on the internet. Some of the main examples of the client-server model include FTP servers and clients, Web servers and Web browsers, and the DNS (Mitchell n.d.). Modern companies make use of LANS, as well as internet for carrying out their business processes. Therefore, client-server systems can definitely help them in making effective use of client-server technology. However, increased...
6 Pages(1500 words)Essay

Small business

...streets of Canberra, additional $ 200,000finances will be sought to launch subsequent outlets from other small times; that is, from the third year of operation. Eighty percent of financing of the expansion of the business will primarily come from the shareholders, while 20% will be borrowed from banks. The business aims at generating sales of up to $500,000 by the end of the third year, and to generate up to $300,000 gross margin by the end of the first fiscal year. The Business Business details Products/services: The business will deal with Fast foods and beverages such as coffee and soft drinks. The anticipated demand in 5 years to...
4 Pages(1000 words)Assignment

Small Business

...SMALL BUSINESS A Small Business is one that is independently owned and operated and which is not dominant in its field of operation. The law s that in determining what constitutes a small business, the definition will vary from industry to industry to reflect industry differences accurately. The small business success depends on the management and business skills. Things to consider in planning a small business like in period picture framing and small craft workshop for furniture business needs a good and effective business plan. According to Prof Johan Strydom 80% of all South African small businesses fail in the first five years of their existence. Because of the failure South African economy has lost more than R68 million over... the...
18 Pages(4500 words)Assignment

Small business

...EXECUTIVE SUMMARY ABS & ASSOCIATES is a full-service consulting and accounting business born to provide high satisfaction by rendering excellent services, standard accounting, financial planning and management consulting services, and creating an enjoyable atmosphere at a very moderate and affordable price. In ABS & Associates, we will maintain a friendly, fair, creative and innovative work environment, which respects diversity and new ideas. This is the philosophy we intend to use, to build the ABS & Associates brand within the shortest time possible and make it a leading brand in the UK. Our Mission: To give our clients profession advice base on the nature of their businesses and provide accounting,...
10 Pages(2500 words)Essay

Small business

...outlets and sell their nutritious foods in at least ten festivals in the UK consistently and further increase this number by two festivals annually. This will be made easier by the increase in number of festivals held in the UK. Participation will definitely lead to a higher number of customers and subsequent success of the business. This is also the only way that the business will gain the prominence and fame it intends to achieve. The team also intends to carry out both verbal interviews and distributed questionnaires to capture the opinions of the festival goers and get their preferences where food is concerned. There is also a plan to give samples in small festivals so as to attract...
4 Pages(1000 words)Essay

Small Business

...Small Business Affiliation: Determine how the federal government encourages small businesses The US General Service Administration (GSA) is the one that deals with the needs and requirements of small businesses and ensures it encourages them. It does this through the use of several strategies including training of issues like partnerships, setting goals for the business and even how to win contracts, allowing small businesses to sell to them their products, counseling on issues like marketing strategies, seeking procurement opportunities, dispute resolution and even how to effectively...
2 Pages(500 words)Essay

Small business

...Managing Small Business in UAE: The Case of Green Era Travel Green Era Travel is one of the leading travel agencies in Cambodia with a subsidiary in Abu Dhabi, Emirates. Although it operates in more than one country, the fact of the matter is that it is still ranked as small business because the revenue it collects negligible as compared to other multinationals. Initially, the business started as a small travel firm in Cambodia that specialized in tour guides especially for international tourists. However, with increased demand, the company has managed to undergo gradual but steady growth. In essence, Green Era Travel is currently...
1 Pages(250 words)Essay

Small business

...not achieve enough success as an entrepreneurial individual. Reference List BRIDGE, S., ONEILL, K., & CROMIE, S. (2003). Understanding enterprise, entrepreneurship, and small business. New York, Palgrave Macmillan. BROCKHAUS, R. H. (1980). Risk Taking Propensity of Entrepreneurs. Academy of Management Proceedings. 8, 457-460. CHELL, E. (2008). The entrepreneurial personality: a social construction. Hove, East Sussex, Routledge. BULSARA, H. P., GANDHI, S., & POREY, P. D. (2010). A Comparative Study of Enterprising Tendency with the help of Select Cases in India. International Journal of Trade, Economics and Finance. 392-399. DWECK, C. S. (2006). Mindset: the new psychology of success. New York, Random...
4 Pages(1000 words)Assignment

Small business

...efficiency and more productivity. As our plan is of setting up a small restaurant so our organizational structure would not be a very complicated one. At the top most level of the organizational structure we need a manager who would be responsible for looking after the whole business and would over all keep a check over the issues. Under the manager we need two assistant managers. One for the back of house i.e. the head chef that can look after the issues of the kitchen and under the head chef we can employ as many cooks as are needed. The second person would be responsible for the front of the house and so he would be in charge of the waiters, sweepers and reception and his duty would focus more on...
4 Pages(1000 words)Research Paper

Information security management (small mail company) smaller to Aramex mail company in UAE

...for the backup plan should be in place. The following template shows how the requirements should be structured for Swift Courier. Template: Resource Requirements for the Business Continuity Plan 7.0 Information Security 7.1 Enterprice information/data security policy Swift Courier IT department should have an updated enterprice inofrmation security policy. The policy would be very essential to the department and the company at large since it would define the company’s information security policies as well as the framework needed for communicating, implimenting, and supoorting such policies. Information is a major asset to Swift Courier as a shipment company and like any other asset,...
40 Pages(10000 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Small Business enterprice for FREE!

Contact Us