Centre for Economics and Business Research (CEBR)

Technical And Professional Industry Fastest Growing Sector In Small Business Space

Technical And Professional Industry Fastest Growing Sector In Small Business Space

The technical and professional industry is the fastest growing sector in the small business space, according to a new report by Hampshire Trust Bank. The research, in conjunction with the Centre for Economics and Business Research (CEBR), revealed that there are currently 17% more small businesses in the UK than there were in 2010 – with the number of legal firms, vets and architects increasing by 40% over that time. Communication firms (33%) and business services (25%) have also experienced a surge in popularity in recent years, with transport and distribution also preforming well (22%). In contrast, the growth in the number of small retail (3%) and construction enterprises (4%) has slowed down considerably, with respondents saying that competition is the biggest barrier to growth. Mark S... »