Thursday, 23 December 2010

SMEs account for half of UK's total business turnover ­- study

New research highlights the enormous aggregate spending power of the UK's
smaller and medium sized businesses and vital contribution they will make
towards economic recovery.

The report for British Gas Business, shows smaller and medium sized
businesses spend £1.1tn on their supply chain annually - 49 per cent of UK
business expenditure, and account for £1.6tn of total national business
turnover, greater than the whole of the FTSE100.

It also forecasts a record 312,000 start ups will be created by the end of
2010 and a further 297,000 in 2011. While not all of these businesses will
survive, they will make a major contribution to replacing the 330,000 jobs
estimated to be lost as a result of severe public spending cuts through to

The research was conducted by economic consultants Cebr, and commissioned by
British Gas Business, to understand the needs and challenges of its 500,000
smaller and medium sized business customers.

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