News
Small Business Statistics - Private enterprise continues to grow
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The Department for Business, Enterprise and Regulatory Reform AKA DTI has reported some interesting statistics on the state of small business in the UK.
The data reveals that there were around 4.5m enterprises in the United Kingdom at the beginning of 2006 (a 2.9% increase on the previous year). SME’s employed around 13.2m people and produced over half of all private sector turnover in the country.
Type of Enterprises
Of these 4.5m businesses, a massive 99.3% were “small” (0-49 employees). 0.6% were “medium-sized” (50-249 employees), and just 6,000 enterprises are defined as “large” (Over 250 employees).
SME’s accounted for over half the employment (58.9%) and business turnover (51.9%) in the UK during 2006.