Big businesses dominate the limelight. Whether it’s the front page of the national newspapers, or the 6pm news – big business equals big news. But what about those at the other end of the spectrum? Small and Medium sized businesses make up 99% of the 5.5m businesses in the UK, yet rarely receive the public’s attention or praise.
Not only do they deliver jobs, growth and prosperity for millions of people across the UK, they also play a fundamental role in driving our economy forwards.
The term SME (small and medium enterprise) describes a very broad range of businesses, from the independent high-street coffee shop to the hi-tech, high growth manufacturer and exporter. Within this group of UK companies, there is a notable subset of fast-growing, dynamic businesses.
Small businesses accounted for a whopping 99.3% of all private sector businesses in The UK at the start of 2016
Total employment in these businesses was 15.7 million; well over half of all private sector employment and in 2016 the turnover of SMEs was £1.8 trillion, very nearly half of all private sector turnover in the UK
Much research has shown that it’s these companies that generate new, net job creation in the UK Furthermore they’re great places to work.
‘More needs to be done to raise awareness of the importance of these businesses. More needs to be done to nurture, support and encourage our smaller companies, many of which are poised to be the blue chips of tomorrow.’
We all rely on small businesses in our daily lives, yet many of us may not realise their true impact. But it’s these smaller businesses that help to shape our local cities, towns and regions.
“Despite globalisation bringing about increased competition from retail giants and online shopping, never has there been such an explosion of entrepreneurialism and small businesses growth.”
The “Great British Business Campaign” distributed by the Telegraph Media Group will provide a high profile, influential national platform that through film will promote, encourage and celebrate these businesses and the larger organisations that support them.