It might come as a surprise that most of the UK’s income and employment is provided not by the big national or multinational companies we all recognise but by what are known as small and medium-sized enterprises (SMEs).
These organisations are businesses with fewer than 250 employees and less than £36 million in revenue. And for a business to specifically be considered “small”, it will often have 50 employees or fewer. These small businesses have been called the engines of the UK private sector, driving growth and employing 16 million people.
