The importance of the SME sector
SMEs are a vibrant and growing sector in most economies around the world. Global economic conditions have spurred the rise in SMEs over the last 10-15 years and their continuation is essential to most countries as they employ the majority of workers.
Despite being vibrant and growing, the SME sector is also an unforgiving one, with 20% of all SMEs failing within the first three years. However, failure is not only due to poor business ideas, but more to do with a lack of understanding of the management issues that have to be addressed in order to be successful.
Breckland Council recognise that the economic and social environment in which SMEs find themselves, is different from that of large firms, but encouragement and investment in the sector yields substantial economic benefits.
Useful resources
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