Small, independent businesses are the lifeblood of the British economy.
Data from the ONS shows that:
- 99.9% of the total enterprises in the UK are small businesses
- Independents provide 59.1% of the jobs in the private sector
- Small, owner managed businesses generate 48.7% of the turnover of the private sector
and if that doesn’t convince you the infographic above, created by Simply Business takes an closer look at the profile of UK private sector business.
Simply Business CEO, Jason Stockwood, commented, “This research clearly confirms the importance of (small businesses) in the UK private sector – particularly in terms of the number of jobs they provide. They really are essential to our economy” and here at FundingKnight we couldn’t agree more.
That’s why we are committed to broadening the funding options for small businesses in the UK. We want to deliver a better deal for both those in need of a business loan and the lenders who provide much needed cash injections in return for making their savings work harder.