The Impact Of Small Business On The Uk Economy - 2075 Words

Executive Summary This report offers a briefing of SME (Small and medium sized enterprises). Defines SME in terms of employee numbers and turnover. Explains to the reader why small business are important for UK economy and what impact SME has on it. Report opens up and helps to understand the advantages and disadvantages of creating the business, explains the risks entrepreneur must take in order to make it successful. It is useful for people who is thinking to open up their own business because report shows sides of the industry that never been consider and helps to understand what is required in case to succeed and drive the business into the global market. Enlightens three main ways of business that individual can start and shows both sides of the coin. Contents 1. Introduction 4 2. Micro, small and medium business in terms of employee numbers and turnover 4 2.1 Micro business 4 2.2 Small business 4 2.3 Medium business 5 3. The impact of small business on the UK economy. 5 4. The reasons for people starting their own business. 5 4.1 The advantages of having your own business 5 4.1.1 Your own boss 6 4.1.2 Space to express yourself 6 4.1.3 Unique idea 6 4.1.4 Financial freedom 6 4.1.5 Flexible schedule 7 4.1.6 Something to pass on 7 4.2 The disadvantages of having your own business. 7 4.2.1 Time consuming 7 4.2.2. Financial risk 8 4.2.3 All problems to one person 8 4.2.4 Failure 8 5. The different types of business that an individual can startShow MoreRelatedThe Economic System Of The Uk946 Words   |  4 PagesReport by AI BING The economic system in the UK, and evaluate its effectiveness. Introduction Firstly, British economy introduction. Secondly, the top field in the UK. Then is fortune global 500. Finally, the economic impact to the people. 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