Small Business Overview - UK - November 2019
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Small businesses account for a very significant part of the UK economy. There are more than 5.9 million such companies, accounting for 99% of all businesses operating in the UK. They also account for 35% of all turnover and 39% of all employment. Yet the sector is one of the hardest for companies to target as a market economically. This is because the sector is not only highly fragmented, but it is anything but homogenous.
“The small business sector is hugely diverse. While elements of the sector will grow and develop into medium/large businesses, this is not the sole objective of all small businesses. Economic marketing to the sector can be difficult partly because of the fragmentation and partly because the diverse objectives need to be recognised.”
– Terry Leggett, Senior Analyst
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