Recently, the Department for Business Innovation and Skills 2008 released Statistics for the UK and Regions of Small and Medium-sized Enterprise (SME).

SMEs Role in UK Economy

  • There were 4 million small businesses in the UK in 2003, which is now up to 4.8 million in 2008.
  • Around 3 million businesses are only owners.
  • Around 1.3 million are companies.
  • 462,000 are partnerships
  • Less than 20 people are employed by 97 percent of firms.
  • Fewer than 5 people are employed by 95 percent of firms.
  • Every year, many people, 500,000 people start their own businesses.
  • More than 59.4 percent are employed by small and medium-sized firms of the private sector work force.
  • Small and medium-sized firms employ 13.7 million people.
  • More than 50.1 percent of the UK turnover is contributed by small firms.
  • Small firms contribute to 64 percent of commercial innovations.
  • Of all private sectors enterprises operating in Business Services which contribute to 25 percent.
  • Wholesales, retail or repairs of all private sector enterprises operate contribute 21 percent.
  • The tax is collected by small firms and they pay VAT, Tax, NICs and other duties which help pay for the public services.
  • Of all, there are 33 percent of UK enterprises in London and the South-East.
  • More than 2 million people run their small-businesses from home.
  • Around seven and half million people work from home for their boss.