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Small and Medium Enterprises (SMEs) in the UK Economy - Essay Example

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The Department for Business and Skills estimated the SMEs to be 99% of all enterprises contributing £1,589 billion to the UK economy as of 2008. However, the growth of SME…
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Small and Medium Enterprises (SMEs) in the UK Economy
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Small and Medium Enterprises (SMEs) in the UK Economy

Download file to see previous pages... The fall in employment in UK, as stated by the DBIS is estimated at 0.74 percent to 13.6 percent million workers. It has likewise estimated a decrease in private sector employment in UK by 309,000, or 1.3% as compared to its 2008 employment figures.
Reasons for employment reduction in the SME sector will be investigated to provide information that could be used as basis for government policy decisions. Since the problems of SMEs lead to failure and eventually employment reduction, it is also important that that these problems be pinpointed as well.
The European Commission and McQuaid (2003) gave distinctions to a small and medium sized enterprise. In this respect, SME is categorized as ...Download file to see next pagesRead More
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