The Great British Business Campaign distributed by the Telegraph Online has been created to promote and showcase the diversity of SME Britain, from manufacturing, engineering and construction sectors through to healthcare, professional services and everything in between. We will be working with cases of excellence in each sector to share success stories around innovation, heritage, inspiration and resilience.
The government’s statistics on the UK’s business population 2016, states that there were 5.5 million private sector businesses – an all-time record! This is an increase of 2 million since 2000, 97,000 of which were within the last 12 months.
The government is looking at the SME’s to bolster the UK economy and drive growth. 99.9% of all private sector business are small or medium-sized (SMEs). The combined annual turnover of SMEs was £1.8 trillion, 47% of all private sector turnover in the UK.
There has been sustained growth in the total business population, with increases of +59% since 2000 and +2% since 2015, showing the importance of SME’s to British Business and the wider economy. SMEs account for at least 99% of the businesses in every main industry sector.