Small businesses and the UK economy - Commons Library Standard Note

Published 13 June 2014 | Standard notes SN06078

Authors: Chris Rhodes, Matthew Ward

Topic: Small businesses

• In 2013, there were 4.9 million businesses in the UK, over 99% of which were small and medium enterprises.

• Small and medium enterprises employed 14,424,000 people in the UK in 2013.

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

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