1、 ERC_UKwww.enterpriseresearch.ac.uk The State of SmallBusiness Britain 2025Navigating uncertainty2 The State of Small Business BritainThe Enterprise Research Centre(ERC)is an independent research centre based at Warwick Business School focusing on growth,innovation and productivity in small and medi
2、um-sized enterprises.The Centre is funded by the Economic and Social Research Council,The Department for Business and Trade,The Department for Science Innovation and Technology,Innovate UK,the British Business Bank and the Intellectual Property Office.The views expressed in this report are those of
3、the authors and do not necessarily represent those of the funders.The State of Small Business Britain 3Foreword 4The ERC Team-Contact Information 5Executive Summary 6Our Manifesto for Small Business Growth and Productivity 101.The Small Business Landscape in 2025 111.1 Trends in business activity 11
4、1.1.1 Changes in the small business population 111.1.2 Changes in early entrepreneurial activity 121.2 Trends in SME performance 131.2.1 Growth-related behaviours 131.2.2 SME financial health 141.3 Business concerns 151.4 Summary 192.Business Growth,Productivity and Investment 202.1 Understanding pa
5、tterns of small business growth 202.2 Business investment decisions 222.3 Access to finance 242.4 Late payment 263.The Small Business Ecosystem 273.1 Entrepreneurship framework conditions 273.2 Business support 293.3 Local social capital 323.3 Summary 334.Innovation 344.1 Trends in innovation activi
6、ty 344.2 Innovation drivers and barriers 354.3 Innovation and performance 374.4 Digital adoption 384.5 Summary 425.Workplace Mental Health and Wellbeing 435.1 Workplace mental health and business performance 435.2 The extent of workplace mental health issues 445.3 The business impacts of mental heal