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Small and medium sized enterprises

The role and importance of the small and medium sized enterprises (SMEs) within the UK economy has been subject to an increase in public attention, particularly throughout the 1980s and 1990s. One reason for this attention is the belief that a healthy and vigorous small business sector is considered important to the performance of both the UK economy and the EU. Older small firms invariably prove extremely resilient to fluctuations in the economy over time. The fact that a substantial proportion of the firms which were declining and / or unprofitable during the late 1970s were still in existence in 1989.
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The Small Business Service

The Small Business Service will shortly be publishing a Framework for Government Policy towards small business to ensure that service standards for SMEs are improved across Government.In addition the Government announced a number of measures to help new and growing businesses. The Government will: Extend eligibility for the Small Firms Loan Guarantee Scheme from April 2003. The changes will mean that even more small businesses can benefit from the scheme, making a real difference to those that find it difficult to obtain bank finance. The move will especially help businesses within ethnic minority groups who tend to operate many businesses in the new participating sectors. 
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