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Seminar paper from the year 2022 in the subject Business economics - Business Management, Corporate Governance, grade: A, University of Leicester (Business Management), course: Market Entry, language: English, abstract: Small and Medium-sized Enterprises (SMEs) play a crucial role in the economic growth and development of countries. Understanding the determinants of SMEs' performance, growth, and survival is essential for policymakers, business owners, and investors. This report aims to discuss the internal and external determinants of SMEs' performance, growth, and survival in the UK context. To achieve this objective, the report will use two well-known analytical frameworks: SWOT Analysis and Porter's Diamond Model to explore the internal determinants, and PESTLE Analysis and Porter's Five Forces Analysis to analyze the external determinants. Relevant examples and literature will be cited to provide a comprehensive understanding of SMEs in the UK. The economic environment can significantly influence the performance of SMEs in the UK. For example, the COVID-19 pandemic has had a significant impact on the UK economy, leading to reduced consumer spending and decreased demand for goods and services. This has had a direct impact on the revenue and profitability of SMEs in the UK. However, some SMEs have been able to capitalize on new opportunities that have arisen as a result of the pandemic. For example, delivery services such as Deliveroo and Uber Eats have experienced increased demand due to lockdown restrictions.
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