Latest News

22 Nov

Our Future Derby

A new and exciting initiative which engages primary school children and introduces them to the changing world of work is being rolled-out across 37 primary schools in Derby. Find out how you can get involved.

21 Nov

New EAFRD to help create new jobs for Rural Businesses

The Rural Development Programme for England (RDPE) Growth Programme has opened a new call under the European Agricultural Fund for Rural Development (EAFRD) worth £35 million.

18 Nov

Enterprise and Innovation Centre at Nottingham Trent University

The new home for local businesses, start-ups, students, graduates and local entrepreneurs. Nottingham Trent University are opening a dynamic and innovative centre for both entrepreneurs and growing enterprises that want to work and co-locate with them.

Hidden Britain: Survey Reveals 98% of People Underestimate the Scale of Small Businesses in the UK

• Only 2% of respondents realise small businesses make up 99% of total UK businesses
• Four in five (81%) significantly underestimate the economic contribution small businesses make to the UK
• The British Business Bank has launched a campaign to highlight the contribution of small businesses – shining a light on the nation’s Small Wonders

The British Business Bank, the UK’s national economic development bank, today announces the launch of its ‘Small Wonders’ campaign, designed to showcase and celebrate the huge contribution of small businesses to the UK economy and society. To launch the campaign, new polling from ICM, the independent research company – commissioned by British Business Bank – reveals the extent to which the presence and contribution of the UK’s small businesses go unrecognised by the public.

Small businesses make up 99.3% of the total UK business population. 98% of the survey respondents underestimated this share, however, with three in four thinking that small businesses accounted for fewer than 60% of the UK’s business population.

The contribution of small businesses to UK private sector turnover is also vastly undervalued. Only one in five (21%) correctly identified their £1.3 trillion, or 33%, contribution to UK private sector turnover. All other respondents thought small businesses’ economic contribution was lower.

The Small Wonders campaign ends on 1 December 2017, ahead of the annual Small Business Saturday on 2 December. For social channels, the campaign hashtag is #SmallBizWonders.

Keith Morgan, CEO of the British Business Bank, said: “The British Business Bank turned three years old at the start of November. We want to raise awareness of the incredible achievements of small businesses and reflect on their enormous contribution to our economy and society. They are Small Wonders and we encourage the public and our partners to get involved in recognising their importance.”

Mike Cherry, National Chairman, The Federation of Small Businesses, said: “Small firms are undoubtedly the unsung heroes of UK society. It’s critical that we rally UK-wide support for small business owners and the self-employed so they can go on contributing more than £1 trillion to the economy annually. With Small Business Saturday fast approaching, these entrepreneurs need the support of shoppers as they face a tough trading environment.”