Written Question·Department for Business and Trade·UIN 5663
Small Businesses: Economic Growth
Tabled: 12 September 2024
Answered: 11 October 2024
Question
Gareth Bacon
Conservative — Orpington
To ask the Secretary of State for Business and Trade, if he will make an estimate of the proportion of economic growth that will be created by small and medium-sized enterprises in the next five years.
Answer
Gareth ThomasSmall and Medium Enterprises make a significant contribution to economic growth, they currently represent 99.9% of the UK’s business population, account for 16.7 million jobs (61% of total UK employment), and generate £2.4 trillion in annual turnover (53%...
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