The Issues Facing Small Business - 1655 Words

Abstract The purpose of this journal to critically evaluate the issues facing small business owners in the pursuit of business growth with recommendations as to how government policy might be informed to support SMEs to achieve their growth objectives. It will be highlight by innovation through this journal. Key words: †¢ Innovation †¢ Economic growth †¢ SME †¢ Job creation †¢ Technology †¢ Government policy Introduction Definition of SME: â€Å"Similarly, recent EU definitions specify that a small company is one with no more than 50 employees, turnover of up to â‚ ¬10m and/or a balance sheet total of up to â‚ ¬10m; a medium company is one with no more than 250 employees, turnover of up to 50m and/or a balance sheet total of up to â‚ ¬43m; it further specifies a micro company as one with no more than ten employees, turnover of up to 2m and/or a balance sheet of up to â‚ ¬2m. â€Å" GILMORE, A., MCAULEY, A., GALLAGHER, D., MASSIERA, P. and GAMBLE, J., 2013. Researching SME/entrepreneurial research. Journal of Research in Marketing and Entrepreneurship, 15(2), pp. 87-100. 99% of the private sector organizations are SMEs and representing 59.3% of private segment employment and 48.1 % of private sector turnover in 2013. (Rowlatt, 2013) In addition to making a lopsided commitment to job creation they play a key part in development and growth by driving rivalry and innovation. Government s aim is to make the UK the best place for organizations to begin and flourish and to do this they have toShow MoreRelatedSmall Medium Enterprises Of Brunei Darussalam : Business Ecosystem, Economic Constraints And Counter Measures1306 Words   |  6 PagesProject Topic Small Medium Enterprises in Brunei Darussalam: Business ecosystem, economic constraints counter measures. 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