Small Firm Sector

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Small Firm Sector

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Small Firm Sector

  1. 1. The Small-Firm Sector
  2. 2. Defining the Small-firm Sector <ul><li>EU definition of SMEs </li></ul><ul><ul><li>by number of employees </li></ul></ul><ul><ul><ul><li>micro enterprises </li></ul></ul></ul><ul><ul><ul><li>small enterprises </li></ul></ul></ul><ul><ul><ul><li>medium enterprises </li></ul></ul></ul>
  3. 3. EU SME definitions
  4. 4. Defining the Small-firm Sector <ul><li>EU definition of SMEs </li></ul><ul><ul><li>by number of employees </li></ul></ul><ul><ul><ul><li>micro enterprises </li></ul></ul></ul><ul><ul><ul><li>small enterprises </li></ul></ul></ul><ul><ul><ul><li>medium enterprises </li></ul></ul></ul><ul><ul><li>use of EU definitions in the UK </li></ul></ul>
  5. 5. Defining the Small-firm Sector <ul><li>EU definition of SMEs </li></ul><ul><ul><li>by number of employees </li></ul></ul><ul><ul><ul><li>micro enterprises </li></ul></ul></ul><ul><ul><ul><li>small enterprises </li></ul></ul></ul><ul><ul><ul><li>medium enterprises </li></ul></ul></ul><ul><ul><li>use of EU definitions in the UK </li></ul></ul><ul><li>Size of the small-firm sector in the UK </li></ul>
  6. 6. Number of UK businesses, employment and turnover by size of enterprise (2002)
  7. 7. Number of UK businesses, employment and turnover by size of enterprise (2002)
  8. 8. Number of UK businesses, employment and turnover by size of enterprise (2002)
  9. 9. Number of UK businesses, employment and turnover by size of enterprise (2002)
  10. 10. Number of UK businesses, employment and turnover by size of enterprise (2002)
  11. 11. SME share of UK businesses, employment and turnover by industry (2002)
  12. 12. SME share of UK businesses, employment and turnover by industry (2002)
  13. 13. SME share of UK businesses, employment and turnover by industry (2002)
  14. 14. SME share of UK businesses, employment and turnover by industry (2002)
  15. 15. The Small-firm Sector in the UK <ul><li>Changes over time </li></ul><ul><ul><li>growth in the service sector </li></ul></ul><ul><ul><li>growth in niche markets </li></ul></ul><ul><ul><li>new working practices </li></ul></ul><ul><ul><ul><li>flexible labour markets </li></ul></ul></ul><ul><ul><ul><li>subcontracting </li></ul></ul></ul><ul><ul><li>growth in self-employment as an answer to unemployment </li></ul></ul>
  16. 16. The importance of small firms in the UK Employment in manufacturing enterprises with fewer than 200 employees as % of total employment in manufacturing enterprises
  17. 17. The importance of small firms in the UK Employment in manufacturing enterprises with fewer than 200 employees as % of total employment in manufacturing enterprises
  18. 18. The importance of small firms in the UK Employment in manufacturing enterprises with fewer than 200 employees as % of total employment in manufacturing enterprises Self employed as % of UK labour force
  19. 19. The importance of small firms in the UK Employment in manufacturing enterprises with fewer than 200 employees as % of total employment in manufacturing enterprises Self employed as % of UK labour force
  20. 20. The Small-firm Sector in the UK <ul><li>Changes over time </li></ul><ul><ul><li>growth in the service sector </li></ul></ul><ul><ul><li>growth in niche markets </li></ul></ul><ul><ul><li>new working practices </li></ul></ul><ul><ul><ul><li>flexible labour markets </li></ul></ul></ul><ul><ul><ul><li>subcontracting </li></ul></ul></ul><ul><ul><li>growth in self-employment as an answer to unemployment </li></ul></ul><ul><ul><li>role of government </li></ul></ul>
  21. 21. The Small-firm Sector in the UK <ul><li>Changes over time </li></ul><ul><ul><li>growth in the service sector </li></ul></ul><ul><ul><li>growth in niche markets </li></ul></ul><ul><ul><li>new working practices </li></ul></ul><ul><ul><ul><li>flexible labour markets </li></ul></ul></ul><ul><ul><ul><li>subcontracting </li></ul></ul></ul><ul><ul><li>growth in self-employment as an answer to unemployment </li></ul></ul><ul><ul><li>role of government </li></ul></ul><ul><li>International comparisons </li></ul>
  22. 22. Survival, Growth and Failure of Small Firms <ul><li>Competitive advantage and small firms </li></ul><ul><ul><li>flexibility </li></ul></ul><ul><ul><li>quality of service </li></ul></ul><ul><ul><li>production efficiency and low overheads </li></ul></ul><ul><ul><li>product development and innovation </li></ul></ul><ul><li>Problems facing small businesses </li></ul><ul><ul><li>selling and marketing </li></ul></ul><ul><ul><li>funding R&D </li></ul></ul><ul><ul><li>management skills </li></ul></ul><ul><ul><li>less ability to gain economies of scale </li></ul></ul>
  23. 23. <ul><li>The growth of small businesses </li></ul><ul><ul><li>the process of growth </li></ul></ul>Survival, Growth and Failure of Small Firms
  24. 24. Management role and style in the five stages of a small business
  25. 25. Management role and style in the five stages of a small business
  26. 26. Management role and style in the five stages of a small business
  27. 27. Management role and style in the five stages of a small business
  28. 28. Management role and style in the five stages of a small business
  29. 29. Management role and style in the five stages of a small business
  30. 30. Survival, Growth and Failure of Small Firms <ul><li>The growth of small businesses (cont.) </li></ul><ul><ul><li>the entrepreneur </li></ul></ul><ul><ul><ul><li>motivation and desire to succeed </li></ul></ul></ul><ul><ul><ul><li>educational attainment </li></ul></ul></ul><ul><ul><ul><li>management experience and business knowledge </li></ul></ul></ul><ul><ul><li>the firm </li></ul></ul><ul><ul><ul><li>the age of the business </li></ul></ul></ul><ul><ul><ul><li>the sector of the economy </li></ul></ul></ul><ul><ul><ul><li>legal forms </li></ul></ul></ul><ul><ul><ul><li>location </li></ul></ul></ul>
  31. 31. Survival, Growth and Failure of Small Firms <ul><li>The growth of small businesses (cont.) </li></ul><ul><ul><li>strategy </li></ul></ul><ul><ul><ul><li>workforce and management training </li></ul></ul></ul><ul><ul><ul><li>use of external finance </li></ul></ul></ul><ul><ul><ul><li>product innovation </li></ul></ul></ul><ul><ul><ul><li>export markets </li></ul></ul></ul><ul><ul><ul><li>use of professional managers </li></ul></ul></ul><ul><ul><li>conditions for success of small businesses </li></ul></ul>
  32. 32. Government Assistance to the Small Firm <ul><li>Small-firm policy in the UK </li></ul><ul><ul><li>small business start-up </li></ul></ul><ul><ul><ul><li>types of support </li></ul></ul></ul><ul><ul><ul><li>financial assistance </li></ul></ul></ul><ul><ul><li>small business growth </li></ul></ul><ul><ul><ul><li>financial assistance </li></ul></ul></ul><ul><ul><ul><li>corporate venturing </li></ul></ul></ul><ul><ul><ul><li>national 'business angels' </li></ul></ul></ul><ul><ul><li>training programmes </li></ul></ul>
  33. 33. Government Assistance to the Small Firm <ul><li>Small-firm policy in the EU </li></ul><ul><ul><li>historical background </li></ul></ul><ul><ul><li>SME Action Programme </li></ul></ul>
  34. 34. EU SME Action Programme
  35. 35. Government Assistance to the Small Firm <ul><li>Small-firm policy in the EU (cont.) </li></ul><ul><ul><li>policy initiatives </li></ul></ul><ul><ul><li>financial instruments </li></ul></ul><ul><ul><ul><li>Structural Fund </li></ul></ul></ul><ul><ul><ul><li>European Investment Bank </li></ul></ul></ul><ul><ul><li>research and technology development </li></ul></ul><ul><ul><li>vocational training programmes </li></ul></ul><ul><ul><li>other programmes </li></ul></ul>

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