Small Businesses contribute to Economy’s Continued Growth

Government Growth Dashboard shows increase in small and mid-sized business turnover and profit in 2014 The government’s Growth Dashboard report has revealed improvements in the economy and employment in 2014, with small and mid-sized businesses accounting for 60% of employment and 47% of total turnover. Private sector employment was up 2.2 million and Gross Domestic Product (GDP) increased by 3% over the year. Furthermore the UK is the top EU country for attracting exports, with business investment growing by 26.1% from 2010 to 2014 and forecasted export growth of 2.4% in 2015. The study, released by the Department of Business, Innovation and Skills (DBIS), included reports by the Federation of Small Business that revealed small firms (less than 50 employees) witnessed a rise in both turno... »


The UK’s Gross Domestic Product (GDP) was up in Q4 of 2007. Data from the Office of National Statistics shows the UK economy grew by 0.6% in the last quarter of 2007 compared to economic growth of 0.7% in Q3. A drop in the growth of services was offset by an increase in production. Total production output remained at zero growth in Q3 but rose by 0.3% in the fourth quarter with mining, quarrying and utilities bolstering growth whereas manufacturing growth stayed flat. Service output fell due to weaker growth in business and financial services with retail also slowing markedly. Agriculture, communications, construction, distribution, hotels & restaurants, transport and storage services did see gains. Transport, storage and communications contributed the most to the economic growth... »