A Brief Note On Uk And Eu Small Business Policy

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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: •…show more content…
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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