At the start of 2014:
There were an estimated 5.2 million businesses in the UK which employed 25.2 million people, and had a combined turnover of more than £3,500 billion
Small firms accounted for 99.3 per cent of all private sector businesses in the UK, 47.8 per cent of private sector employment and 33.2 per cent of private sector turnover
Small and medium sized businesses employed 15.2 million people and had a combined turnover of £1.6 trillion
Of all businesses, 62 per cent (3.3 million) were sole proprietorships, 29 per cent (1.5 million) were companies and nine per cent (460,000) partnerships
The biggest percentage increases in the number of businesses since the start of 2013 were in Wales (up 13%) and the North East (12%)
18% of all SMEs in the UK private sector operate in the Construction sector while 15% operate in the Professional, Scientific and Technical sectors.
Wholesale and Retail Trade accounts for over a third of all SME turnover (35%)
(updated November 2014)
Figures obtained from the Department for Business Innovation and Skills.
This is great news for the economy as more and more of us are considering joining the self-employment train. It is widely felt that many new businesses start with a good idea and determination.
For many new businesses the owners consider being everything within the organisation which can lead to burn out very quickly. Which are you guilty of, working in your business or working on your business too much? Each has their own issues that are easily solved with careful planning and the odd little outsourcing of the jobs that you aren’t that great at undertaking:
- systems and processes
Contact us HERE to discuss your individual business needs our Business Support package takes you from #startup2success