Introduction
SMEs refer to the small and medium sized enterprises in the business world. They belong to the urban and the rural settings respectively. For a business to grow and prosper well, it has to involve itself in a number of activities. These activities are normally referred to as business strategies. These are the activities that convey out the difference between businesses and thereby subject them to categories as those of small and medium sized businesses (Brown 2002 p. 31).
The natures of management in these business enterprises are quite different. This is based on the nature in which the various organs of the companies as those of human resource management. In the UK, most of the companies belong to the category of small business enterprises. This is exemplified in the kind of services that these companies offer to the company and the people at large (Organization for Economic Co-operation and Development 2006 p. 41). Many sectors of these businesses have the notification of falling in the category of small enterprises. For instance in the field of cheques and other business transaction cards, the small and medium sized enterprises are known to be doing well. However, they are found to be liable to certain issues as they cannot get to the level of competing in large businesses of the entire world (European Commission. Commission 2000 p. 98).
Main body
The economy of the UK is quite dynamic. It is one of the most exceptional economies in the world. The nature and operation of the private equity funds are the major builders of the SMEs in the country. First and foremost, most of the companies are private and they fall under the category of SMEs. This has made the economy of the country to be so robust and magnificent. When compared to the economies of other nations, the economy of the United Kingdom is one of the best. These SMEs are very attractive to the people of the land. They are therefore looked and made use of by many people. Most of the systems that operate around these enterprises are managed by people who belong to the SME companies. As far as the large business establishments are pound to dictate the nature of operation, the SMEs are doing exceptionally good (Howard 1992 p. 56).
The SMEs have a range of advantages that makes them to be in possession of certain strengths. They are locally based hence they serve most of the people who cannot afford goods from the larger business establishments. One of the most attractive features of these companies is their ability to satisfy all the people of their needs and requests. This has made them to advance from one stage to another. They however have some disadvantages or rather weaknesses as having inadequacies in the corporate governance. This makes them not be able to operate like other large establishments. They are therefore not able to provide the necessary competition in the market.
The small and medium sized enterprises in the UK have been of great benefit to the citizens and the country as a whole. Many people are known to be the operators of these businesses. They derive most of the needs from working on these businesses. It is therefore one of the UKs profit making organizations (Moha 2000, p. 12). They are operated by a category of workers as financial directors, financial controllers and the chief accountants besides accountants of the various managements. The strengths of these companies are mostly inherent. Most of them have developed a scheme that has assisted them to monitor their strategies and value their creations. They normally operate at taking risks which have actually been well managed based on the various decisions that have been made (Moha 2000, p. 12).
Based on their governance, they are normally administered by use of knowledge. This is their source of fundamental success. They have involved the skill of information technology to make sure that they are actually operating within the consent of the business principles in the entire world. These business establishments have also taken measures that will assist them to cope with the nature of the current business environment.
Conclusion
In conclusion, most of the business operations in the UK fall under the category of SMEs. They are doing well and have thus transformed the economy of the kingdom to a level that it had not been before. Moreover, the companies are boosted by the interesting methodologies that have been involved to have them run as usual.
Reference list
Brown, A. (2002) Ninth European conference on information technology evaluation. London: academic Conferences Limited.
European Commission. (2000) SME: taking the opportunity! London: Office for Official Publications of the European Communities.
Howard, L. et al, (1992) SME Mining engineering handbook. Liverpool: SME publishers.
Moha. A et al, (2000) Small and Medium Enterprises in Asian Pacific Countries: Manchester: Nova Science Publishers.
Organization for Economic Co-operation and Development. (2006) The SME Financing Gap: Theory and evidence. London: OECD Publishing.