SJD Accountancy

Expansion of UK business sector great news for contractors

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Figures published by the Department for Business, Innovation and Skills on 24th May show that there has been a significant increase in the number of active UK businesses. This is encouraging for UK contractors both at the larger end, in terms of providing more potential clients but also showing that, at the smaller end, more people are making a success of setting up on their own.

The report showed that the number of private businesses in the UK increased by 48,000 year on year and, in real terms, there are now over 4.5 million private sector businesses in operation, employing roughly 22.5 million people and turning over an impressive £3.2 trillion. Commenting on these findings, Business and Enterprise Minister Mark Prisk said, “Private sector enterprises will create growth in our economy… these figures show the resilience of British business. I am determined that the government will do everything it can to create the right environment for these businesses to now expand and grow, and also to encourage more people to set up on their own.”

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