Our latest research shows that national and local government are increasingly focused on growing levels of enterprise to support economic growth, but current policies are often too generic to be fully effective.
This report, sponsored by Workspace, investigates how enterprise policy needs to change by analysing the role small firms play in the city with the highest start-up rate in the UK and the most high growth firms – London. It reviews the implications of the composition and geography of London’s small business base for enterprise policy, not just in London but also in other city economies.
It also finds that small firms, with fewer than 50 employees, have played an increasingly important role in city economies across the UK over the past decade. On average, small firms accounted for 96 per cent of all businesses and just over half of all jobs in UK cities in 2010. In London, small firms accounted for 97 per cent of businesses and half of the city’s 3.4 million jobs.
This work is sponsored by Workspace