small business population

UK Small Business Population Hits Record 5.4 Million

UK Small Business Population Hits Record 5.4 Million

The UK’s small business community has exploded according to the latest government statistics, which noted a record high 5.4 million private-sector firms this year – a 146,000 increase on 2014. And, according to the Business Population Estimates report, small and medium enterprises currently generate over £1 trillion turnover to the UK economy. In total small and medium businesses make up 99.3% of the entire UK business population, and the reported 146,000 growth – which is the net annual change, and accounts for start-ups and closures – indicates that more businesses launched this year than closed. The data also found that there has been a rise in medium-sized businesses (50 to 249 employees) and sole traders in 2015. There are now 1,000 more medium enterprises recorded at the start of 201... »