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Small Business: the engine of UK economy

Politicians, business people and academics laud small business as the engine of the UK economy. Small businesses provide energy, enterprise and employment – Patricia Hewitt, Trade & Industry Secretary, claims that “we know that it’s small businesses that will create the jobs of the future” ** and make a substantial contribution to the success of UK plc.

Of the 3.7 million UK businesses, 3 million are small and medium sized. They provide work for 12.5m people and generate an estimated £400 billion of GDP.
Yet, despite this, small businesses and entrepreneurs are under-represented in political and business decision-making; don’t have a voice in media and political circles that matches the contribution they make to business and economic success; and are often hamstrung by unhelpful legislation and bureaucracy. They prosper – and help our economy prosper – despite, rather than because of the political and regulatory environment.

** Speech by Patricia Hewitt, Trade and Industry Secretary, Labour Party conference, September 2002.

Quotes of the day

A couple of interesting quotes to pass the day!

The art of taxation consists in so plucking the goose as to obtain the largest possible amount of feathers with the smallest possible amount of hissing – Jean Baptiste Colbert (1619-1683)

We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle – Winston Spencer Churchill (1874-1965)

More to follow!

Hello and Welcome

This is the start of the David Rice Associates blog – which we hope to keep updated with topical and useful information, to avoid cluttering up the main pages of our website.

Keep dropping by for updates!