Did you know that small businesses account for over half (63.8%) of the UK’s private sector employment – and over half (59.2%) of our turnover? That’s a massive £1,653 billion. However, because of their size, diversity and regional distribution, small companies can still be misunderstood.
Last year, BT Business launched its inaugural Small Business Week to address this problem. It was the first time that key UK government, independent and business organisations came together to celebrate small enterprises. The accompanying State of the Small Business Nation examined the conditions driving small businesses in 2007.
This year’s report continues where we left off – looking at the biggest motivators, problems and solutions faced by over 3,000 of the UK’s small businesses. The companies that took part were split equally into three sections, so we could get a clear picture of conditions for home businesses, start-ups and growing companies.
In 2008, economic conditions have put pressure on the UK market, and smaller companies in particular will start to feel the strain. However, in terms of the resources and support available, things have never been better for those wishing to start up a new business or continue to grow. In the end, it’s just a question of finding the best ways to work.