In the past few weeks, lot of optimism regarding UK’s economy has been over the headlines. The International Monetary Fund and World Bank projected clearer days due to the improving performance of the country.
According to Office of National Statistics, the recovery of UK’s economy is in progress if the figure continuously to improve for the next months.
The amazing finding from the news last week is that Britain has exceeded other developing countries. The finding also revealed that Britain recovers fast for the last couple of years.
Don’t call for a celebration yet as success is still far away. The nation needs to focus more on helping and supporting small businesses.
According to Federation of Small Businesses, small businesses are the very reason for the rapid growth of UK’s economy. The nation should ensure that small businesses experience the same support given to large corporations.
UK is the home of over 4.9 million small businesses and provides jobs to one-third of the working population of the country. Small businesses are considered the advantage of the country as they are ambitious, determined and competitive innovators that feel confident towards the economy.
Another reason why small businesses have been victorious is they are capable of changes. In fact, about 56 percent of small businesses aim to export this 2014. Large corporations also saw the potential so they are optimistic about indulging themselves to export market.
As mentioned, the nation needs to support small businesses – provide trainings and establish connections as their stepping stones. The government and small businesses should function as one to accomplish many things.
This is the importance of localisation. Small businesses should first study the modern behaviours of Britons and their quality of life in order to better understand the international market.
For UK to recover effectively, we have to concentrate on empowering small businesses. We should open our minds that UK is definitely ready for the international market.