SME Lending Crucial To UK Economic Growth


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Crowdfundinsider reports on the latest Federation of Small Businesses figures. At Money&Co., we certainly share the writer's point of view:

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"In the UK, similar to other parts of the world, SMEs are the engine of economic growth and associated job and wealth creation. According to the Federation of Self-Employed and Small Businesses (FSB);

  • Small businesses account for 99.3% of all private sector businesses at the start of 2015 and 99.9% were small or medium-sized (SMEs).
  • Total employment in SMEs was 15.6 million or 60% of all private sector employment in the UK.
  • The combined annual revenue of SMEs was £1.8 trillion or 47% of all private sector turnover in the UK.

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"These are important numbers to understand. If you do not have an environment that fosters innovative young firms, and entrepreneurs, you risk killing the entire economy. While it may be a slow, lingering demise, the outcome is inevitably not a positive one. Limiting red-tape (regulation), incentivizing investment in smaller firms (think EIS and SEIS) are all policy initiatives that serve the greater good."

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