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The role and importance of the small and medium sized enterprises (SMEs) within the UK economy.
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| Submitted: Thu Mar 18 2004
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The role and importance of the small and medium sized enterprises (SMEs) within the UK economy has been subject to an increase in public attention, particularly throughout the 1980s and 1990s. One reason for this attention is the belief that a healthy and vigorous small business sector is considered important to the performance of both the UK economy and the EU. Older small firms invariably prove extremely resilient to fluctuations in the economy over time. The fact that a substantial proportion of the firms which were declining and / or unprofitable during the late 1970s were still in existence in 1989. One of the reasons for the consistent increase of small firms is due to their ability to respond quickly to economical change. As the pace of technological change has increased in society, so has the ability of the small firms to respond quickly to change, this has given them a greater...
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