In an interview with the BBC in 2014, David Cameron described small businesses as the ‘lifeblood’ of the UK economy. Whilst this has certainly popularised the term, it is one which has not only been used, but has been true for many years.

http://www.smeweb.com/sme/alternative-finance-the-heart-that-pumps-the-lifeblood-of-the-uk-economy