It's no surprise that small businesses are high on the Government's agenda. Their contribution to the economy cannot be understated; they account for more than 99% of UK businesses and 49% of private sector turnover.
Given how vital they are to the UK economy, it is crucial that SMEs are able to access the support they need to sustain their businesses and ideally, to grow. In the face of a lingering recession however we know small businesses and social enterprises are experiencing challenging times.
We are committed to supporting organisations, providing services and products to meet these challenges head on, to support social innovators and aspiring market-leading enterprises of tomorrow.
Listening to our customers and being involved in the local communities where they are trading helps us to understand what they need from us. This way we can work most effectively together to enhance their opportunities for growth and success.
By focusing our attention on helping SMEs to make the most of the opportunities that this market brings we can establish employment stability, create new jobs and stimulate demand through the supply chain.
And with more than half of the private sector workforce employed by SMEs they also offer huge benefits not only to the UK economy but also to the areas in which they operate, creating jobs and training staff. Their employment policies can have a long-term impact on the social cohesion and skills available within their communities.
Enterprise, in all its guises has, and will continue to play, an important role on both an economic and social level. With small and medium sized enterprises the very backbone of the UK, they are widely regarded as being the key to unlocking economic recovery.
It's our goal to help these entreprenuerial organisations realise their potential.
Robin Foale, MD Santander Business Banking
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