Here’s an excellent article from the FT, citing latest research from the Enterprise Research Center (five UK business schools).

via Small business growth returns to pre-recession levels says study – FT.com.

The article claims that small businesses (small medium enterprises  – SMEs) have finally returned to pre-recession levels. The article highlights that:

There are 5.2m businesses in the UK, 99 per cent of which are classified as SMEs. They employ more than 15m people and have a total turnover of £1.6tn, 47 per cent of business turnover.

Whilst the FT article and the underlying ERC research provide some useful objective data, there’s a an absence of subjective insight. During the same period, large corporate entities have continued to grow their profitability and capitalization – they have not had banks refuse to grant finance, nor ask for personal guarantees.

Let me turn this to an open question:

Why has UK small business growth only just returned to pre-recession levels?

Thoughts?

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