Small business statistics 2021 UK version

2020 was a challenging year for small businesses owners, Covid-19 affect economy worldwide, and with some business at the beginning of their journey the pandemic represent a huge challenge for them.

Small business from home are the new trend on 2021

In this blog you will find

• 2020 business population

• Trends in the business population Between 2000 and 2020:

• Trends in the business population between 2019 and 2020

• Small business and medium business in the economy

• Percentage growth by industry in the UK 2020

This will give you a perspective of the 2021 statistics for small business and a good idea which field is the more profitable.

Lets dive in into the numbers.

Here are the small business statistics 2021 for UK

“The UK private sector comprises largely of non-employing businesses and small employers. SMEs (small and medium-sized enterprises) account for 99.9% of the business population (6.0 million businesses).” Acording to the Department for Business, Energy and Industrial Strategy.

What does this mean?

5.94 million businesses were small (0 to 49 employees)

36,100 businesses were medium-sized (50 to 249 employees) at the start of 2020 in comparison with 2019 the private sector increase by 1.9%.

2020 business population

• there were estimated to be 6.0 million UK private sector businesses

• 1.4 million of these had employees and 4.6 million had no employees

• therefore, 76% of businesses did not employ anyone aside from the owner(s)

• there were 5.94 million small businesses (with 0 to 49 employees), 99.3% of the total business population

• there were 36,100 medium-sized businesses (with 50 to 249 employees), 0.6% of the total business population

Trends in the business population between 2000 and 2020:

• the business population increased by 2.5 million (+72%)

• the average rate of annual growth in the business population was +3%

• the highest rate of increase was +7% between 2003 and 2004, and between 2013 and 2014

• in contrast, there was a decrease in the business population (for the first time in the series) between 2017 and 2018 of 27,000 (-0.5%)

Trends in the business population between 2019 and 2020:

• the total business population grew by 113,000 (1.9%)

• there were 3,000 more (+0.2%) employing businesses and 110,000 more (+2.5%) non-employing businesses

• the net change in the business population is determined by the balance of new business start-ups and de-mergers (inflows) against those businesses that closed, merged or were taken over by another business (outflows).

Small business and medium business in the economy

• At the start of 2020 there were 5.94 million small businesses (with 0 to 49 employees), 99.3% of the total business. SMEs account for 99.9% of the business population (6.0 million businesses). 

• SMEs account for three fifths of the employment and around half of turnover in the UK private sector.

• Total employment in SMEs was 16.8 million (61% of the total), whilst turnover was estimated at £2.3 trillion (52%).

• Employment in small businesses (with 0 to 49 employees) was 13.3 million (48% of the total), with a turnover of £1.6 trillion (36%). info by FSB 

Percentage growth by industry in the UK 2020

• Agriculture forestry and fishing -0.5%

• Production +0.4%

• Mining quarrying and utilities +2.1%

• Manufacturing +0.3

• Construction +2.2

• Wholesale -1.8

• Retail +0.0

• Transport and storage (including postal) +10.5

• Accommodation and food services +3

• Information and communication -0.2

• Finance and insurance +2.3

• Property +2

• Business administration and support services +3.1

• Education +1.1

• Health +1.2

• Arts entertainment recreation and other services +1.0

One thought on “Small business statistics 2021 UK version

Leave a Reply

%d bloggers like this: