May 01, 2023 Answer: About NACE Rev 2 NACE Coder is a pan-European categorization methodology that classifies businesses based on their activity. The NACE identifiers for the different NACE divisions may be found using this searchable tool supplied by the Central Statistical Administration. In the data provided for review, the total number of UK firms was 72, and the total number of German firms was 74. Firm Size Distribution According to the statistics, there were a total of 33 small businesses, accounting for 54 percent of all businesses. Thirteen medium enterprises accounted for 21% of all firms, twelve big firms accounted for 20% of total firms, and three very large firms accounted for 5% of total firms. The industry has a total of 61 companies. Criteria For Defining The Size Of The Firms The size of a corporation is defined by turnover, balance sheet total, and average staff count standards. Additionally, qualitative characteristics are taken into account. Both the component, turnover, and the number of employees, may be used to determine the firm`s size because they are both adequate. However, given the present data, we have chosen turnover over the number of workers since it will provide more accurate findings in determining the firm`s size. Turnover is particularly effective in determining the size of a company because it informs us about the company`s entire potential and stability, which is very useful in determining the size of the company. If the number is enormous, the company seems large, and vice versa. Descriptive Statistics The maximum number of workers in the United Kingdom was 13,095 and the minimum number of employees was 30. When it comes to turnover, the maximum was 14,73,516 and the minimum was 510. The maximum figure was enormous; it represents the nation`s efficiency and productivity, which is why they are creating such significant numbers. Employees also enjoy working at the organization due of the positive atmosphere. The UK`s mean and median turnover were 1,32,761 and 29,889, respectively, while the mean and median number of workers were 849 and 220, which looks reasonable when compared to other independent countries. We may conclude from these figures that UK businesses have created a significant amount of revenue while also providing beneficial job opportunities. The standardized deviations is a measurement of a collection of variables` variance or dispersal. A low standardized deviations implies that the numbers are close to the collection`s mean, whereas a high standard deviation suggests that the numbers are dispersed over a larger spread. Standard Deviation of turnover were 2,86,124 and Number of employees was 1842 approximants.