Small Business Statistics which I found interesting.
The statistics I am referring to are as at the start of 2014 and relate to businesses in the UK. The information for this blog post was obtained from Department for Business Innovation and Skills.
The reason for my writing this article, was that I am doing research for my new Increase Your Profits Plan course, and I wanted to find out a few things about business turnover etc.
It turns out that the average turnover for businesses of the following sizes, are as follows:
Small businesses with 0-49 employees had an average annual turnover of £224,852 and there were around 5.2 million of this size of business.
Interestingly, in my free webinar that I am preparing, which is about the subject of increasing your profits, has an example of a business with an annual turnover of £200,000.
A further breakdown of the above numbers revealed the following statistics:
- No employees (3,964,775 businesses) – Average turnover of £58,284
- 1-9 employees (1,044,385 businesses) – Average turnover of £406,266
- 10-49 employees (194,755 businesses) – Average turnover of £2,643,808
- 50-249 employees (31,475 businesses) – Average turnover of £15,150,563
- 250 or more employees(6,745 businesses) – Average turnover of £277,843,291
This further analysis was good too, as the first example in my webinar shows a business with an annual turnover of £60,000.
The total turnover in the UK for all businesses in the private sector is £3.5 trillion or shown as a full number with all those naughts on the end…£3,521,254,000,000 – now that’s a huge number.
The total turnover for all small businesses (i.e. with 0-49 employees) for the same period was £1.17 trillion or…£1,170,337,000,000.
Another interesting statistic is that the total number of businesses in the private sector at the beginning of 2014 was 5.2 million, whereas back in 2000 this was 3.5 million. So in the last 14 years the UK has 1.7 million new businesses.
Small firms (those employing 0-49 staff) accounted for 99.3% of all private sector businesses and contributed 33.2% of the total turnover. This same group of businesses employed nearly 50% of the total work-force in the private sector or 47.9%.
What I was staggered to learn whilst doing this research, was that both small and medium sized businesses (0-249 staff) employed 15.2 million people (which is 60% of all private sector employees) and had a combined turnover of £1.647 trillion at the beginning of 2014 – that’s huge!
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