The value for the economy and community
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Small businesses are vital to the health of our national economy and local communities.
Small-to-medium enterprises are a strong sector in the UK.
UK-wide, they create 13 million jobs and bring in £2.8 billion.
And 33% of UK's SMEs are based in London and our boroughs,
SMEs develop the kind of transferable business skills that benefit the UK workforce.
Their impact on local communities is just as important. Businesses can act as the glue that holds together communities, forging networks and ties between neighbours.
Local business owners are likely to support and look after their communities, take a role in social development issues and support community projects. Their presence contributes to safer streets, economic regeneration and more choice in local services.
By encouraging more people to start up, and supporting existing businesses to grow, we aim to improve community cohesion, and increase prosperity.
