Britain's small firms came top of a European business survey according to a report published today by Small Business Minister Nigel Griffiths.
Reacte, the first European benchmarking report, looked at small businesses in nine countries across Europe and measured their performances against each other in key aspects of their businesses.
Britain topped the league, scoring the highest marks in 20 of the 70 categories.
The report aims to help small businesses compete more effectively in Europe by comparing themselves to the best and worst in each category. It will help them to address their weaknesses and build on their strengths.
The report's findings include:
- the UK has the highest pre tax profit margin (relating to turnover) of all the nine European countries. Portugal and Spain have the lowest;
