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Small businesses and the UK economy

Published Tuesday, December 9, 2014

This note presents a statistical analysis of small businesses in the UK, the role of small businesses in international trade, small businesses and GDP, small businesses and tax receipts and information on government policy towards small businesses.

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• In 2014, there were 5.2 million businesses in the UK, over 99% of which were small and medium enterprises.

• Small and medium enterprises employed 15.2 million people in the UK in 2014.

• The European Commission’s SME Performance Review estimates the Gross Value Added of SMEs as €473 billion or 49.8% of the UK economy.

Commons Briefing papers SN06078

Authors: Chris Rhodes; Matthew Ward

Topics: Economic situation, Small businesses

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