Call us today

UK welcomes hundreds of thousands of new SME entrants

Get in touch today - call Kent on 01634 570 390 or Surrey on 01737 370 493

Book a FREE consultation

If you would like to get some impartial advice, simply book a free consultation and we'll get in touch with you as soon as we can.

UK welcomes hundreds of thousands of new SME entrants

New official figures reveal that almost 200,000 new small businesses have been formed in the UK this year so far.

Data from the Department for Business, Energy and Industrial Strategy (BEIS) suggests that the total number of small and medium-sized enterprises (SMEs) operating in the UK has soared to an all-time high of 5.7 million.

Since the year 2000, more than 2.2 million new SMEs have been formed, BEIS’ report reveals.

It adds that Britain’s SMEs now generate approximately £1.9 trillion in turnover every single year.

The Federation of Small Businesses (FSB) has welcomed the figures, which it says reflect the strength of our nation’s entrepreneurial spirit in the face of political uncertainty.

Mike Cherry, National Chairman of the FSB, said: “Despite rising costs and flagging consumer demand, we still have ever more people taking the brave and exciting step of starting a small business.”

He added that, despite 2017 being a somewhat tough year for businesses, the research demonstrated that Britain’s entrepreneurs and start-up businesses were “not easily shaken.”

BEIS’ data also found that SMEs now make up 60 per cent of all employment within the private sector, and generate more than half (51 per cent) of all private sector turnover.

Top

Urgent COVID-19 Notice
Working From Home

Our first priority is the health and well-being of our team and our community. Therefore, with a heavy heart we have made the decision to temporarily work from home with immediate effect.

We are listening to the government’s daily updates, taking each day as it comes, and will reopen our offices as soon as it is safe to do so.

If you have any questions or need to discuss any issues at all please do email or call us on our usual number 01634 570 390.

The general email is enquiries@orchardaccountants.co.uk.

We hope everyone is keeping well and staying safe.

This website uses cookies to enhance your browsing experience... moregot it