SME generalisation unhelpful

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 SME generalisation is unhelpful

Harris & Co chartered accountants Northampton report that David Prosser suggests that a more detailed understanding of the UK’s small business sector is needed if firms are to thrive and survive. He cites the fact that the term ‘SME’ is used to describe everything from a start-up business operating in someone"s spare bedroom to a company with hundreds of staff and turnover of tens of millions of pounds. He states: “This generalisation matters because it encourages us all to think of SMEs as a homogenous group… In fact, the challenges confronting a micro business run from home and a mature business closing in on an IPO are completely different - so too, therefore, is the support and assistance these businesses require from policymakers and others.”

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