The “State of Small Business Britain 2023” report, by the Enterprise Research Centre (ERC), provides a decade-long perspective on the evolving landscape of small businesses in the UK. This comprehensive review outlines key trends, challenges, and strategic imperatives to bolster growth and productivity. Here are the critical insights:
1 Shifts in the Small Business Ecosystem:
2 Sustainable Growth and Productivity:
3 Finance and Stability:
4 Digital and Green Transitions:
5 Management, Leadership, and Wellbeing:
6 International Trade:
7 Future Directions and Policy Recommendations:
A Strategic Roadmap for SME Growth
The “State of Small Business Britain 2023” emphasises that the SME sector’s resilience is a testament to the UK’s entrepreneurial dynamism. However, long-term success demands strategic adaptation. This involves bridging digital and green transitions, ensuring equitable access to finance, and fostering leadership skills. With the right policies, the UK can empower its SMEs not only to survive but to drive economic growth and innovation in the years ahead.
Read the report below
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