Topic > Importance of SMEs - 2422

One of the most important aspects 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 type of business in the UK is dominated by 5.4 million SMEs, which provided a huge share of over 99% of the total. However, as mentioned, their dominance is not an idle number in the statistics. In 2012, a study found that each year around 367 000 people were no longer unemployed due to SMEs (Urwin & Buscha 2012, p..