Small Firms in UK - Essay Example

Only on StudentShare

Extract of sample
Small Firms in UK

For these reasons, small business industry is critical to UK economic development and social cohesion. They provide a medium for retirees and other potential unemployed persons to have gainful employment and contribute fully and independently to wider society. Small businesses have been contributing to employment and manufacturing since the 1960s. The increasing rates of self-employment have been attributed to; a parallel rise in rates of unemployment (e.g., retirees, unspecialised graduates); reductions in levels of unemployment benefits and government incentives; and the increasing importance of technology in the information service industry.
In the early 1970s there were changes to the industrial structure across the globe of industrialised nations. Initially, the value of the small business decreased, but by the 1970s the structure of manufacturing saw dramatic changes and small firms began to provide better quality of products and services than larger corporations, particularly in areas of rapid technological changes (e.g., electronics). Over time, small firms began again to add value to the UK economy, and among many small businesses their rates of employment increased. ...Show more

Summary

The small business community in the UK plays an important role in current economic development and social harmony. Small businesses are dynamic and flexible, and provide a range of product and services both nationally and internationally. To date, small businesses generate 52% of turnover annually in the public sector, employing about 2.6 million people as Small to Medium Enterprises (SMEs)…
Author : loma66
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Small Firms in UK"
with a personal 20% discount.
Grab the best paper

Related Essays

Is Small Beautiful? Critically appraise management styles in small firms
In fact, there are so much variation in management of organizations and businesses. The great diversity in the managerial styles raises a concern in knowing the like that enables a small business to effectively, thrive. These will include effective ideas that lead to the same without many constraints of any manner.
10 pages (2500 words) Essay
The Relationship between Multinational Firms, the State and Socio-Economic Development in the UK
Estimates show that production levels by these multinationals is over one-fourth of the total global output and forms one-third of the overall world trade. Observers are of the view that multinationals or FDIs do have a beneficial impact on the national economic growth, provision of capital, and transfer of technologies, among other issues.
11 pages (2750 words) Essay
Management Styles within Large and Small Firms and How These Styles May Impact On the Employment Relationship
This study is attempts to critically appraise the management styles within companies of various sizes, in order to ascertain and illustrate the impact that variations in management styles may have upon the employment relationship.
12 pages (3000 words) Essay
Compare and contrast the relative competitiveness of small firms and large firms.
Polly Roberts writes on differentiating the firms noting that larger and smaller firms differ in their internal factor prices. He says, “Larger firms pay less for capital and more for labor; smaller firms pay more for capital and less for labor” ( Roberts, n.d.).
6 pages (1500 words) Essay
Government Regulations for Small Firms
Very often small business is positioned as small fish in the ocean, where only strong sharks can survive due to strict conditions, rapidly changing environment and high competition. On the other hand, in the modern globalized world being an owner of a small business warrants the need to have a strong position to withstand the challenges and hardships in case business owners’ rights are not protected.
4 pages (1000 words) Essay
Small business and taxation
They also account for a significant portion of the private sector since they account for more than 58 per cent of the country’s private sector. Their contribution to the economy is also immense since they contribute about 52 per cent of national GDP. Despite their contributions to economic growth and employment, small businesses in the United Kingdom are faced with a number of challenges.
7 pages (1750 words) Research Paper
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT