Small business statistics
Small business statistics
At the start of 2012:
• There were an estimated 4.8 million businesses in the UK which employed 23.9 million people, and had a combined turnover of £3,100 billion
• SMEs accounted for 99.9 per cent of of all private sector businesses in the UK, 59.1 per cent of private sector employment and 48.8 per cent of private sector turnover
• SMEs employed 14.1 million people and had a combined turnover of £1,500 billion
• Small businesses alone accounted for 47 per cent of private sector employment and 34.4 per cent of turnover
• Of all businesses, 62.7 per cent (three million) were sole proprieroships, 28 per cent (1.3 million) were companies and 9.3 per cent (448,000) partnerships
• There were 907,000 businesses operating in the contruction sector - nearly a fifth of all businesses
• In the financial and insurance sector, only 25.3 per cent of employment was in SMEs. However, in the agriculture, forestry and fishing sector virtually all employment (95.4 per cent) was in SMEs
• Only 25.5 per cent of private sector turnover was in the arts, entertainment and recreation activities, while 90 per cent was in the agriculture, forestry and fishing sector
• With 806,000 private sector business, London had more firms than any other region in the UK. The south east had the second largest number of businesses with 768,000. Together these regions account for almost a third of all firms
micro: 0-9 employees, small: 10-50 employees, medium: 50-249 employees
(updated October 2012)
Figures obtained from the Department for Business Innovation and Skills. Home working figures courtesy of Enterprise Nation.
Small businesses believe that a lack of consumer confidence will pose a significant challenge to their business in the coming 12 months, according to the latest findings of a the Federation of Small Businesses (FSB) snap poll as it revives its Keep Trade Local campaign.
Small businesses must now seize the Chancellor’s wide ranging package of measures to support the economy.
Many FSB members that own butchers shops have reported a dramatic increase in sales following the discovery of horsemeat in some UK food products. The FSB now wants consumers to shop in their independent retailers and has re-launched its Keep Trade Local campaign to highlight the importance of small firms to the local community. Read the press release and coverage on the Huffington Post. The FSB is encouraging people to send images of them using independent retailers on Twitter and Facebook, and is hosting the images on Tumblr. Read more small business news here.
Following the publication of the Financial Services Authority’s (FSA) pilot study showing that around 90 per cent of firms had been mis-sold complex financial products, the Federation of Small Businesses (FSB) has put a process in place which aims to deliver help and advice to those firms affected.
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The Chancellor and the Business Secretary will both speak to guests tonight (5 February) at the Federation of Small Businesses (FSB) Annual Chairman’s Dinner. In his final speech as National Chairman, John Walker will tell delegates that during what has been a momentous week for the banking sector that he is pleased reforms to the banking sector seem to be moving in the right direction.