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News - 17 October 2012

Record level of private sector businesses in UK

Official figures published on Wednesday 17 October by the Department for Business, Innovation and Skills (BIS) show that the number of private sector businesses in the UK increased to record level of 4.8 million at the start of 2012.

This figure shows an increase of 0.3 million on the previous year. The figures also show that of the 4.8 million businesses:

  • They employ an estimated 23.9 million people
  • Had a turnover of £3,100 billion
  • 99.9% of them are Small and Medium sized Enterprises (SMEs)
  • These SMEs also employ 59.2% of private sector workers and have 48.8% of the turnover

Lavinia Newman, founder of ABDS comments:
“We have seen for ourselves the growth in the private sector, and we can only see it improving as long as the continued reforms to employment laws, additional tax relief and investment in our entrepreneurs is sustained.”

If you need any help and advice when starting up a new business  contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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