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  • Essay / Importance of SMEs - 2422

    One of the most important includes their contribution to the UK economy in reducing unemployment. In a briefing paper by Rhodes (2015) and published by the House of Commons, it is revealed that the business type in the UK is dominated by 5.4 million SMEs, which make up a huge share of over 99% of the total. Yet, as we mentioned, their dominance is not an idle number in the statistics. In 2012, a study found that around 367,000 people were no longer unemployed each year thanks to SMEs (Urwin & Buscha 2012, p..