SME Opportunities in the United Kingdom

 

 

 

 

 

The United Kingdom is a land of innovation. This is vividly reflected in the fact that the UK ranks second in the world for the most Nobel Prize winners. 

International trade is flourishing despite Brexit and continues to be a cornerstone of the UK economy. Instead of cooperating with European countries, more and more British companies have expanded their operations to the Middle East in the last two years (see here).

In 2021, there were 5.6 million registered small and medium-sized enterprises in the UK. SMEs thus account for 99% of British companies. The number of companies in the UK has risen continuously in recent decades, which is an indicator of the country's attractiveness for investment.

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Arab British Chamber of Commerce (ABCC)

The Arab British Chamber of Commerce was established in 1975 with the aim of promoting and facilitating trade, investment and joint ventures between the UK and Arab countries. It originated from an initiative of the League of Arab States Economic Council.

 

The ABCC organizes regular events, networking meetings and workshops to continuously develop trade cooperation between the UK and the Arab region.

UK Department for International Trade

The Department for International Trade is a government agency responsible for concluding and expanding trade agreements between the United Kingdom and other countries. It is also the first port of call for the promotion of foreign investment and export business.

Small and medium-sized enterprises (SMEs) are typically defined as businesses with less than 250 employees. The 5.6 million SMEs in the UK account for 99 % of all enterprises.

In 2020, the UK economy was gripped not only by Brexit, but also by the Covid-19 pandemic. 61% of UK SMEs reported facing existential hardship that year.

40% of British small and medium-sized enterprises say they expect difficulties in recruiting suitable staff as a result of Brexit.

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