Number of small firms has increased, study finds

Each small business was worth an average of almost £130,000 to the UK economy in 2012 and the sector contributed 52% of private sector Gross Value Added (GVA), according to research by RSA. On top of this, the number of small firms starting up has increased by 35% over the past ten years, while the number of large firms fell by 11% over the same period. Tara Kneafsey of RSA said although small firms were increasing in number they still needed ongoing Government support for every stage “from inception through to growth”.

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