A Brief Note On Uk And Eu Small Business Policy

2654 Words11 Pages
Richmond
The American International
University in London

School of Business and Economics

Master in Business Administration

ENT7100 Economics for Business

Assignment 1

Compare and Contrast UK and EU Small Business Policy

David Longbottom
000055846

November 2014

Table of Contents

Executive Summary 3
1.0 Background 4
1.1 Definition 4
1.2 Objectives 5
1.3 Challenges 6
2.0 Analysis 7
2.1 Overview 7
2.2 Similarities 8
2.3 Differences 9
3.0 Conclusions 11
4.0 Bibliography 12
3.1 Text Books 12
3.2 eBooks 12
3.3 Websites 12

Executive Summary

The assignment outlines arguments to compare and contrast UK and EU Small Business Policy.

The assignment includes:

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In 2014 SMEs account for 99.3% of firms (4.8 million companies), 47.8% of employment (15.2 million people) and 33.2% of annual turnover (£1.6 Billion)6. The European Commission SME Performance Review provides estimates for the EU private sector. In 2014 SMEs account for 99.8% of firms (21.6 million companies), 67.5% of employment (88.8 million people) and 58.4% of annual turnover (€3.6 Trillion)9.

1Sloman, J, Hinde, K, Garratt, D. Economics for Business. Prentice Hall Financial Times, 2006.
2Muller, P, Gagliardi, D, Caliandro C, Bohn, NU, Klitou, D. Annual Report on European SMES 2013/104: A Partial and Fragile Recovery. European Commission. 2014.
5Wikipedia. “Small and medium-sized enterprises.”, http://en.wikipedia.org/wiki/Small_and_medium-sized_enterprises, accessed 4th December 2014.
6Federation of Small Businesses. “Small Business Statistics.”, http://www.fsb.org.uk/stats, accessed 30th December 2014.
9European Commission. “SME Performance Review.”, http://ec.europa.eu/enterprise/policies/sme/facts-figures-analysis/performance-review/index_en.htm, accessed 30th December 2014.
1.2 Objectives

The SME sector is a significant component of the EU economy responsible for driving growth through entrepreneurship3.

The primary economic benefits of entrepreneurship are:

• Job Creation
• Innovation
• Productivity
• Growth

In the UK, 62% (3.3 million) of

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