Introduction to Business- Business size and growth

Question 1

How would you define small and medium sized enterprises (SMEs)?

Answer 1

Any business with fewer than 250 employees, 50 is considered small in the UK.

Question 2

How would you define a large enterprise?

Answer 2

Businesses with more than 250 employees, account for 40% of UK employment and more than half of turnover.

Question 3

How is the size of a business measured?

Answer 3

number of employees, number of outlets, turnover levels, capital employed.

Question 4

Which factors influence business size?

Answer 4

market size, resources, personal preference, finance.