The usual definition of small and medium sized enterprises (SMEs) is any business with fewer than 250 employees. 

In 2017, there were 5.7 million businesses in the UK. • Over 99% of businesses are Small or Medium Sized businesses – employing 0-249 people • 5.5 million (96%) businesses were micro-businesses – employing 0-9 people. Micro-businesses accounted for 33% of employment and 22% of turnover. • In London, there were 1,519 businesses per 10,000 resident adults. In the North East there were 657 per 10,000 resident adults. • The service industries accounted for 74% of businesses, 79% of employment and 71% of turnover. • The manufacturing sector accounted for 5% of businesses, 10% of employment and 15% of turnover. • There were 414,000 business births and 328,000 business deaths in 2015. • 21% of SMEs are female-led, and in 28% of FTSE100 board members were female. Briefing Paper- Business Statistics- House of Commons .

Despite them being critical to our economy, reports show that SMEs are being under-served when it comes to legal help and advice:

  • Less than 15% of SMEs believe lawyers offer cost effective legal solutions.
  • SMEs do not take legal advice in relation to 70% of issues requiring it. 
  • 46% of SMEs say that unaddressed legal issues had had a tangible adverse impact on their business.
  • Less than 15% of SMEs believe solicitors offer cost-effective legal solutions.

Do your members fall within the SME category? 

Source: Law Society Gazette- The SME legal services market 10th June 2014