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In Great Britain private enterprises generate over three-quarters of total domestic income. The Government is taking measures to provide direct assistance or advice to small and medium-sized businesses. A small number of large companies are responsible for a substantial proportion of the total production in vehicle, aerospace and transport equipment industries. Private enterprises account for the greater part of activity in the agricultural, manufacturing, construction, distributive, financial and miscellaneous service sectors. The annual turnover of the biggest company, British Petroleum, makes it the 11th largest industrial grouping in the world and the second largest in Europe.
Britain is a major financial center, housing some of the world's leading banking, insurance, securities, shipping, commodities, futures and other financial services and markets. Financial services are an important source of employment and overseas earnings. Business services include advertising, market research, management consultancy, exhibition and conference facilities, computing services and auction houses. The computing services industry is one of the fastest-growing sectors of the economy, and information technology is widely used in retailing and financial services. Britain is one of the world's leading tourist destinations.
Britain has a long tradition of research and innovation on science, technology and engineering in universities, research institutes and industry. British achievements in science and technology in the 20 century include fundamental contributions to modern molecular genetics, physics, astronomy, medicine. The world's first pig with a genetically modified heart has been bred by scientists at Cambridge University, an important milestone in breeding animals as organ donors for people. Nobel Prizes for science have been won by 70 British citizens.
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