Small Firms

Ian Chaston

Chapter 13 in Entrepreneurship and Innovation During Austerity, 2013, pp 211-224 from Palgrave Macmillan

Abstract: Abstract By the 1980s, the small and medium size enterprise (SME) sector in both the USA and Western Europe had become an increasingly important source of employment and a significant contributor to Gross Domestic Product (GDP). In the UK by the end of the 20th century the small firm sector, which is defined as all firms with up to 249 employees, was providing 55 percent of all employment and contributing over a quarter of the nation’s total GDP. Elsewhere within the European Union (EU), small firms have an even more important economic role, generating over 65 percent of total employment.

Keywords: Small Firm; Large Firm; Venture Capitalist; Market Orientation; Radical Innovation (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-32443-6_13

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DOI: 10.1057/9781137324436_13

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