UK businesses are plentiful than ever, with the Business Population Estimates report showing that, at the start of 2016, the UK had a million more small businesses, 4,000 more medium-sized businesses and 900 more large businesses, compared to 2010, a total increase of 23 per cent.
Business and energy secretary Greg Clark says, ‘Britain’s businesses are the heroes of our economic revival and it is great to see the number of businesses rise by over a million since 2010.‘Our job creators don’t always get the praise and respect they deserve but we should be proud of our entrepreneurs, business leaders and innovators. The government is committed to ensuring Britain builds on its success and is the best place to start and grow a business.’
SMEs accounting for vast majority of UK businessesSmall and medium-sized firms account for at least 99 per cent of businesses in every main industry sector. The total number of businesses in London has also reached one million for the first time and the number of businesses employing people across the country has risen for the third year running.