The big business of small business
When you think of a small business, you might think of a local coffee shop or a garage, your butchers or an electrician. They’ve built a reputation for being independent, hard working and reliable. Lying behind these businesses, however, is an untold story. They may not employ thousands of people or be household names, but collectively they have a crucial and profound impact on driving prosperity around the world.
Small businesses account for 50% of global GDP. Over half the people with jobs in the developed world work in a small business. They support local communities, provide essential services and develop innovative new products. The contribute billions in tax revenue, helping to run schools, hospitals and more. In short, they are the unsung heroes of our economy.
To help tell their story, we’ve partnered with Oxford Economics to produce our second in-depth report looking at the economic impact of lending through Funding Circle. We’ve seen how providing small businesses with access to finance helps them to keep progressing, and has an immense impact on the global economy. And while it’s the businesses that are making it happen, none of this would be possible without the support of investors lending through Funding Circle.
To find out more, check out our summary video and infographic, or you can download the full report.