UK SMEs and the self-employed account for more than their fair share of the UKs economic output. We are more reliant on this sector as a nation than you may think.
We have compiled some interesting statistics about UK SMEs and the self-employed in an infographic.
1 – According to fruitworks.co‘s 10 facts about UK businesses, approximately 1 in 10 people in the UK run their own business.
2 – Government research briefings found there were 5.7 million private sector businesses in the UK in 2017. An increase of 197,000 (4%) on 2016.
3 – Real estate, renting and business activities topped the % of UK SMEs by sector at the end of 2016, with 27% of the market according to statista.com. Nearly one-fifth of the nations SMEs work in the construction sector.
4 – According to the Federation of Small Businesses, £1.9 trillion was the total combined SME annual turnover. That’s 51% of all UK private sector turnover.
5 – Statista.com highlights the most common occupation groups of those who are self-employed in the UK.
If you are self-employed, or an owner of a small to medium enterprise, and are looking for business insurance please call one of our award-winning Schemes Team on 0333 321 1403 for assistance.
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