// INFOGRAPHIC //
NEW ANALYSIS REVEALS THE IMPORTANCE of SMEs to the British economy
EW RESEARCH HAS
N revealed how important SMEs are for the British economy as they contribute more than £ 2 trillion in turnover and employ
44 % of the British workforce .
“
THE HOSPITALITY INDUSTRY HAS THE HIGHEST
PROPORTION OF SMES OUT OF ANY INDUSTRY .
The study , by the School of Marketing , analysed the latest ONS and government data on the number of SMEs in 2021 to see which regions and industries are powered the most by SMEs .
Analysis of the industries revealed that the hospitality industry has the highest proportion of SMEs out of any industry .
Out of the 200,645 businesses operating in the industry , 140,050 are small or medium-sized , which equals roughly 69.8 %. The hospitality industry is made up of
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