Small Business Revenues Up for 2015
Business owners in the South West, London and West Midlands have seen the highest increase in income over the past year
The latest small and medium enterprise income data from Barclays showed continued growth from the UK’s small business community, with revenues 4.7% higher in January to March 2015 than in the same period in 2014.
Small businesses in the South West, London and West Midlands witnessed the highest increase in income over the past 12 months.
In terms of revenue growth by sector, small and medium firms in the construction, healthcare and transport sectors also saw the biggest rise
The report, which featured data from 700,000 small and medium UK businesses, found that small business revenues remained 3.9% higher in the second half of 2015 than revenues in the second half of 2014 and 24% above the income growth rate of the second half of 2010.
Adam Rowse, head of business banking at Barclays, commented:
“While income growth has slowed over the past 12 to 18 months, this is to be expected as the wider economic recovery enters a more mature phase and is consistent with small and medium businesses continuing to have a wide range of opportunities to fulfil their ambitions.”