Whether it’s lauding accomplishments or knocking failing ones down, big brands get too much attention when compared with our nation’s real business heroes.
The New Year started well for the big retailers, Marks & Spencer, Debenhams and Tesco – which all posted positive Christmas trading statements.
They provide a good indicator for the state of the economy, but more attention should be given to the performance of micro businesses, which account for 96 per cent of all registered businesses in the UK.
It’s easy to applaud big business and give top billing, but five million micro businesses, providing 33 per cent of the UK’s total employment, with limited resources, are the real business heroes.
Established by entrepreneurial individuals, these businesses, which employ between one and nine people, are crucial to the success of our economy and should be afforded a lot more media coverage and support, to help them reach their full potential.
Micro businesses and self-employment is on the up, but as markets become more saturated and big business leaders flex their marketing muscles, it has become increasingly difficult for these small business heroes to compete. In the UK, one-in-seven people are self-employed, but are now earning 20 per cent less than they were in 2008. Therefore, it’s essential to nurture and support these business heroes.