Small Business in the UK
The idea of setting up a small or micro business has become a hot topic over the past few years.
With successful entrepreneurs leading the way for small businesses in the UK, it’s no wonder that the UK has gone hungry for the idea of a self made millionaire!
With countless startup companies backed by big names such as Dragon James Kahn: offering a helping hand, there’s bound to be some surprising statistics floating about.
Whilst statistics are not the be all and end all, they are useful! They help us to analyze what’s working and what’s not. As well as helping us to understand and interpret the environment in a basic way.
Even with all the talk of the recession, the general opinion is that now is an even better time to be an entrepreneur!
So for some motivation, in this article, we’ve sourced out some very interesting small business facts that have come about from 2012 that may provide you with some food for thought.
Top 15 Small Business Facts
1. That amount of small businesses in the UK had increased by 6 per cent in 2012, making it around 4.8 million in total.
2. Those 4.8 million businesses had employed 23.9 million.
3. And.. combined turnover of £3.1 billion.
4. Approximately 26 per cent of businesses were employers.
5. Whilst the remaining 74 per cent (3 million) were sole - proprietor enterprises with no employers
6. 448,000 of that 3 million were partnerships.
7. The 4.8 million UK SMEs in 2012 meant the economy was made up of 99 per cent of small businesses.
8. The South West and North East saw a 12 per cent increase in the number of new businesses, making them the largest percentage increase compared to the previous year.
9. London had the most private sector business (32 per cent), and had more firms than any other region in the UK.
10. In general, the service industries had the biggest percentage increase than any other sector. London : 79 per cent East Midlands, Yorkshire and Humberside : 69 per cent.
11. The agriculture, forestry and fishing sector were responsible for 96.4 per cent of employment in SME’s. Compared to 25.3 per cent in the financial and insurance industries.
12. Businesses related to service industries were accountable for 78 per cent of employment and 69 per cent of total turnover.
13. Nearly a fifth of all businesses were operating in the construction sector, in numbers that 907,000 construction businesses in the UK.
14. One of the smallest turnovers was in the private sector in the entertainment, activities and art industries.
15. One of the biggest turnovers was 90 per cent due to agriculture, forestry and fishing sectors
From these statistics, it seems the small and micro businesses have a macro outlook! It will be interesting to see what 2013 brings - do you think these stats will rise even more?