Trinity College Dublin library centre of learning
Small businesses are the backbone of our economy, providing jobs and driving growth. They are the most important type of business in the United Kingdom, with an estimated 5 million businesses having fewer than 50 employees each. The term "small business" refers to a company that has fewer than 250 employees, however, this definition is broad and encompasses a diverse range of businesses from one-person operations to those with hundreds of employees, from home-based businesses to those with offices or industrial spaces. Small businesses are also family-owned or operated, but some larger ones may be owned by shareholders who live all over the world. They are an integral part of the economy and play a vital role in driving economic growth and prosperity.