A recent Business Population Estimates 2015 release shows that the number of private sector businesses in the UK has hit a new record of 5.4 million.
- record 5.4 million private sector businesses in the UK
- there are over 900,000 more businesses now than in 2010
- 35,000 more businesses are employing people than last year
- small firms contribute 48% of private sector employment and add £1.2 trillion in turnover to the economy
The number of private sector businesses in the UK has hit 5.4 million – a new record – according to official figures published on 14 October 2015.The Business Population Estimates also show the number of businesses that employ people has grown for the second year running, with 35,000 more at the start of 2015 than in 2014. Small businesses continue to make up 99.3% of all businesses and generate over £1 trillion turnover for the UK’s economy. There has also been an increase in the number of medium-sized businesses, which employ between 50 and 249 people, with 1,000 more of these firms at the start of 2015 than in 2014.
The figures also show there are 7,000 large businesses in the UK that employ over 10 million people and make a significant contribution to the economy (£2 trillion turnover).
The overall business population includes 3.3 million sole proprietors and 1.6 million companies.
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