Looking back on UK Business Statistics 2014 and you can visually see that on the whole it wasn’t a bad year at all. With SME’s as ever propping up the UK economy with a combined small and mid size turnover of over £1.6 Trillion.
Although the construction sector ended up with the highest percentage of share it’s interesting to note that wholesale and retail trade results account for over a third of SME turnover in 2014.
So in 2015 – why not work for yourself?
A recent release from Barclays states that more that 50% of entrepreneurs said they wanted to work for themselves. Redundancy from a previous employer accounts for a 20% in SME startup ventures whilst hobby enthusiasts who turn their love into a commercial venture accounts for 16% of business startups in the UK.
“January is a popular time for new business plans to be made, and many making new year’s resolutions may decide to take the plunge and start their own business. Rebecca McNeil” MD for Business Lending at Barclays
“It is important that business owners are passionate about what they do, as commitment and motivation are key tools to getting a successful business up and running, so it’s good to see that one in six SME owners have turned their hobby into a source of income.”
“The fact there is a higher number of women starting a business after having children compared to men is interesting”.
So if you’ve already started your venture and you are pushing ahead get in touch and let us know how it’s going we’d be delighted to publish your success stories on our blog pages.