UK’s small businesses embrace growth

Some 65 per cent of the UK’s small and medium-sized enterprises (SMEs) anticipate growth over the next two years, according to the latest statistics from the Department for Business, Enterprise and Regulatory Reform (BERR).

A key finding of the 2006/07 Annual Small Business Survey was a 16 per cent rise in the number of UK SMEs creating new products.

The positive findings – of businesses intending to grow and introducing innovation – are indicators of a healthy enterprise environment

Shriti Vadera

Business Minister

It showed that 48 per cent of firms have employees involved in innovation – up from 32 per cent last year.

"The positive findings - of businesses intending to grow and introducing innovation - are indicators of a healthy enterprise environment," Business Minister Shriti Vadera commented.

Announcing more plans to support business development in the UK, she said: "We will unveil an enterprise white paper next month to help unlock the talents of more people, make growing a business easier and narrow the productivity gap between Britain and the US.