Chapter 1: Small Business in the Economy

What is the total number of businesses in the (UK) economy?
1. 500,000
2. 2M
3. 4.5M
How many are ‘large’ i.e. employ over 250 people?
1. 1M
2. 100,000
3. 6000
How many businesses employ others?
1. 1.2M
2. 3M
3. 800,000
What percentage of the private sector workforce is employed in small firms of less than 50 employees?
1. 17%
2. 37%
3. 47%
How many businesses start up every year?
1. 250,000
2. 450,000
3. 50,000
How many businesses close down every year?
1. 250,000
2. 450,000
3. 50,000
According to the European Commission’s definitions, how many employees does a ‘micro’ business
1. 1 to 10
2. 0 to 9
3. 0 to 49
How many employees does a ‘small’ business have?
1. 0 to 25
2. 1 to 50
3. 10 to 49
How many employees does a ‘large’ business have?
1. 250 or more
2. 100 or more
3. 500 or more
The theory that assumes capitalist economies are dominated by large monopolistic firms is called
1. Free market theory
2. Marxist theory
3. Green theory