As wet wipe manufacturers, we are an independent SME (small and medium enterprises) and as MSME (micro, small and medium enterprises) Day approaches, we’re keen to showcase just how important SMEs are! On the 27th June, many businesses celebrate micro, small and medium-sized enterprises day in the UK. The day aims to raise awareness about the challenges and opportunities faced by MSMEs in the UK, and encourage support for their growth and development, because they too play a pivotal role in our economy.
About MSME Day
To better understand the fundamental impact of SMEs, let’s have a look at the breadth they span with recent data gathered:
- Did you know that SMEs account for three-fifths of the employment and around half of turnover in the UK private sector?
- Last year, there were 6 million small businesses (with 0 to 49 employees), which is 99.2% of the total business population. SMEs account for 99.9% of the business population (5.6 million businesses).
- Total employment in SMEs was 16.7 million (61% of the total), whilst turnover was estimated at £2.4 trillion (53%).
- Employment in small businesses (with 0 to 49 employees) was 13.1 million (48% of the total), with a turnover of £1.6 trillion (36%).
In summary, MSME in the UK make up the majority of business and account for over 60% of private sector employment. From manufacturing, retail, hospitality, IT and creative industries, they operate in a wide range of sectors. Despite these impressive statistics, MSMEs continue to face numerous challenges, including limited access to finance, skills shortages, and competition from larger firms.
Following a United Nations General Assembly resolution adopted in 2016, the day was first observed globally in 2017. In the UK, the day is celebrated on 27th June each year, with events and activities organised by various organisations, including government agencies, business associations and chambers of commerce.
The Many Benefits of SMEs
Small and Medium Enterprises (SMEs) play a crucial role in job creation and overall, encourage a more diverse business environment. Here, our wet wipe manufacturers delve into the core benefits that SMEs provide.
Employment Opportunities
- High Employment Rates: SMEs are significant employers. Not only do they employ a large portion of the workforce, they also support many other SMEs.
- Local Hiring: SMEs tend to hire locally, which supports the local economy and provides jobs to residents within the closer community.
Diversity
- Variety of Roles: SMEs create jobs across various sectors and roles, providing opportunities for a wide range of skills and talents. This includes everything from entry-level positions to specialised roles.
- Innovation and New Roles: By driving innovation and developing new products or services often within a niche, SMEs also create entirely new job categories.
Economic Resilience
- Economic Stability: SMEs contribute to economic resilience by diversifying the economic base. A diverse economy is less vulnerable to downturns because it doesn’t rely on a single industry or a few large employers.
- Flexibility and Adaptation: SMEs can adapt quickly to changing market conditions, helping to maintain employment even during economic shifts.
Skill Development
- Training and Development: Working in an SME often involves a broader range of responsibilities. On-the-job training and skill development is often provided, which enhances the employability of workers. This investment in human capital benefits the broader economy.
Support for Innovation and Entrepreneurship
- Incubators of Innovation: SMEs are often at the forefront of innovation, bringing new ideas and products to market. This not only creates jobs within the SME but also stimulates job growth in related industries.
- Start-up Ecosystems: They also contribute to a vibrant entrepreneurial ecosystem, encouraging the formation of new businesses and the continuous cycle of job creation.
Local Economic Development
- Community Support: Many SMEs often invest in their communities, supporting local events, charities, and infrastructure projects. This fosters a supportive environment for further business development and job creation.
- Local Supply Chains: By sourcing locally, SMEs support other small businesses, creating a network of job opportunities across different sectors.
Export Opportunities
- Global Market Access: SMEs that engage in export activities contribute to job creation by expanding their market reach. This often leads to higher production needs, additional hiring and in turn, more efficient processes.
Sustainability
SMEs are also key to a more sustainable way of business, something our wet wipe manufacturers are extremely passionate about:
- Local Sourcing and Reduced Transportation Emissions: Where possible, many SMEs source materials and services locally, reducing the need for long-distance transportation. This results in lower carbon footprint compared to larger corporations that rely on global supply chains.
- Innovative Sustainable Practices: SMEs are typically more flexible and innovative, allowing them to adopt and implement sustainable practices more quickly. They can experiment with new eco-friendly technologies and methods. This can result in creating sustainable products that are environmentally friendly, more efficient resource use and reduced waste.
- Waste Reduction: With smaller and streamlined operations, SMEs can implement effective waste management strategies. This includes recycling programs, reducing packaging materials, and reusing products, which collectively minimise their environmental footprint.
- Consumer Influence: SMEs can influence consumer behaviour by offering sustainable products and services. As more consumers seek eco-friendly options, they can meet this demand, thereby promoting sustainable consumption patterns. This also encourages potential collaborations with other businesses and greater knowledge sharing. This can lead to more widespread adoption of best practices in environmental management across the board.
Guardpack As An SME
So, you can see just how important SMEs are for both our present and future. At Guardpack wet wipe manufacturers, we are passionate about all of the statements above. We are particularly focused on sustainability through our manufacturing too. Our commitment to the environment is something we’ve always championed. This certainly sets us apart from other manufacturers and larger corporations.
As an independent SME we are agile in all that we do. This means that we are consistently innovative and forward thinking with our approach, allowing our customers to be ahead of the curve. As industry-leaders in our field, we have been able to support many other SMEs launch new products, new lines and even entire companies!
Jeremy Freedman, Managing Director of Guardpack says “After more than 25 years of providing sachets and wet wipes we are extremely proud of the contribution that Guardpack has and continues to make on our community, economy, environment and society as a whole. We have seen many new companies and products thrive as a result of working with us, as well as members of our team grow and either move on with improved prospect, or develop within our organisation.”
Get in Touch
At Guardpack, we view our partnership with you as an extension of your services, so strive to achieve the best results for your brand possible. If you’re interested in learning more about our wet wipe manufacturers and the products we offer, we’d love to hear from you!
Simply get in touch with us today by filling out our contact form, emailing us at trade@guardpack.co.uk, or speak to one of the team today on 01245 505807.