It’s been a tough few years for business owners. Brexit, the pandemic, and the energy and cost of living crisis have all taken their toll and seen the number of businesses in Britain drop by 6.6% – from 5.9 million in 2020 to 5.5 million now.
Even so, SMEs make up 99.9% of the UK business population. Let’s take a closer look at what an SME is and what funding options are available if you’re thinking of starting out on your own.