{"id":50731,"date":"2014-11-26T11:21:23","date_gmt":"2014-11-26T11:21:23","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=05368d7cd8d54760561f20840ec6a093"},"modified":"2014-11-26T11:21:23","modified_gmt":"2014-11-26T11:21:23","slug":"press-release-number-of-private-sector-businesses-at-record-high","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=50731","title":{"rendered":"Press release: Number of private sector businesses at record high"},"content":{"rendered":"<div class=\"govspeak\">\n<ul>\n<li>number of private sector businesses in UK reaches new record of 5.2 million<\/li>\n<li>the business population exceeds 5 million for the first time<\/li>\n<li>small businesses employ 12 million people, with a combined turnover of \u00a31.2 trillion, accounting for 33% of turnover in the private sector<\/li>\n<\/ul>\n<p>Official figures published today (26 November 2014) show that the number of private sector businesses in the UK has reached 5 million for the first time at the start of 2014. This is a record annual increase of 330,000 businesses (up 6.7%) on last year.<\/p>\n<p>There has also been an increase of 66,000 (up 5.5%) in the number of employing businesses, making 2014 only the second single year of growth since 2008.<\/p>\n<p>The 5.2 million businesses fall almost entirely in the small category, with businesses employing fewer than 50 people making up 99.3% of the total number.<\/p>\n<p>Business Secretary Vince Cable said:<\/p>\n<blockquote>\n<p>Despite a tough economic backdrop, today\u2019s figures of an all-time high of more than 5 million businesses in the UK show that our talent for innovation and entrepreneurship is leading the way to recovery.<\/p>\n<p class=\"last-child\">It\u2019s a timely reminder that small firms make up the majority of our business community and it is those with the creativity and commercial nous that will continue our legacy as a world-leading enterprising nation. Government has played a crucial role in enabling this growth by cutting red tape, increasing access to finance and supporting industry-led skills and training initiatives.<\/p>\n<\/blockquote>\n<h3 id=\"notes-to-editors\">Notes to editors:<\/h3>\n<ol>\n<li>There were an estimated 5.2 million UK private sector businesses at the start of 2014, an increase of 330,000 compared to the start of 2013.<\/li>\n<li>Small and medium-sized businesses (SMEs) account for more than half of employment (60%) and almost half of turnover (47%) in the UK private sector. Small businesses alone (fewer than 50 employees) account for 48% of private sector employment and 33% of private sector turnover.<\/li>\n<li>The Business Population Estimates 2014 statistical release is available at <a href=\"https:\/\/www.gov.uk\/government\/statistics\/business-population-estimates-2014\">Business population estimates 2014<\/a>\n<\/li>\n<\/ol>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Official figures show that the number of private sector businesses in the UK has reached 5 million for the first time.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/50731"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50731"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/50731\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}