A Review of the UK Business Population in 2015 Article Image

A Review of the UK Business Population in 2015

We look at some of the key figures from 2015 for the UK's business, highlighting some of the growth the UK has experienced.

Business is Booming

  • There were a record 5.4 million private sector businesses at the start of 2015
  • This is an increase of 146,000 since 2014 and 1.9 million more since 2000
  • The number of employing businesses increased by 35,000 and the number of non-employing businesses by 112,000

SMEs and the UK Economy

  • Small businesses accounted for 99.3% of all private sector businesses at the start of 2015 and 99.9% were small or medium-sized (SMEs).
  • Total employment in SMEs was 15.6 million; 60% of all private sector employment in the UK.
  • The combined annual turnover of SMEs was £1.8 trillion, this equals 47% of all private sector turnover in the UK.
  • There were 2.4 million businesses registered for VAT or PAYE, 44% of the total population. A further 3.0 million are not registered for either VAT or PAYE.

Location and Industries

  • The business population in southern England is larger relative to resident population than elsewhere in the UK.
  • SMEs account for at least 99% of the businesses in every main industry sector.
  • Just under a fifth of all SMEs operate in Construction, compared to just 1% in the Mining, Quarrying and Utilities sector

The numbers show just how significant SMEs are to the UK and its economy; and we are proud as a company to support our clients - many of who fall in to this category.

Figures obtained from the Department for Business, Innovation & Skills

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