ABSTRACT
The SME sector is a vital one in the UK economy. In 2009, the Department for Trade and Industry (DTI 2009) estimated that there were 3.7 million SME businesses in the UK. Sole traders account for the majority of the businesses in the UK (63%) but a smaller proportion of the number of employees (23%) and an even smaller proportion of turnover (9%). As a proportion of all businesses in the UK, SMEs account for some 55% of employment and 45% of turnover.
