The State of Small Businesses in the U.K.
Exchanges
Goldman Sachs
4.3 • 1.1K Ratings
🗓️ 15 October 2020
⏱️ 20 minutes
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| 0:00.0 | This is exchanges of Goldman Sachs, where we discussed developments currently shaping markets, industries, in the global economy. |
| 0:13.6 | I'm Jake Seward, global head of corporate communications |
| 0:15.8 | here at the firm. |
| 0:16.7 | Since the onset of COVID, we've |
| 0:17.9 | been talking a lot about how small businesses |
| 0:19.8 | are fairing during the pandemic, |
| 0:21.1 | and today we'll focus that conversation on the UK. |
| 0:25.0 | Our 10,000 small business program there surveyed small business owners to better understand |
| 0:29.4 | how COVID has personally impacted them and their businesses and what their outlook is for the future. |
| 0:35.0 | To discuss that, I'm joined by Charlotte Keenan from our London office. |
| 0:39.0 | Charlotte leads the Office of Corporate Engagement, International Responsibility, and serves as global head of 10,000 women. |
| 0:46.8 | Charlotte, welcome to the program. |
| 0:48.4 | Thank you, Jake. I'm very excited to join you. |
| 0:50.9 | Charlotte, just give us a little bit of an overview of the 10,000 small business |
| 0:54.5 | program in the UK and how you've worked with small business owners particularly during |
| 0:59.3 | this period of the pandemic sure so 2020 is actually the 10th anniversary program here in the UK. We |
| 1:07.5 | launched it a decade ago with the rationale of supporting small business leaders across the country to create jobs and drive investment. |
| 1:17.0 | So to date, we now have over 1800 graduates of the program, our alumni community, with whom we work incredibly closely. |
| 1:27.0 | And to give you a sense of that demographic, their businesses that span all regions and nations of the UK, all sectors of the economy. |
| 1:38.0 | The average size is probably now 15 employees, 1.5 to 2 million pounds turnover and they've been trading for at least three |
| 1:47.8 | years when they start obviously now many of them much, much longer. |
| 1:52.2 | The one thing that really marks this demographic out is they're |
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