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Small business population rises to 5.7m

SMEs accounted for 99.9% of all private sector businesses in the UK at the start of 2017, according to government figures.

Annual statistics from the Department for Business, Industry, Energy and Strategy showed there were 5.7 million private sector businesses - up 197,000 on the same time in 2016.

Small businesses alone accounted for 99.3% of all private sector businesses at the turn of the year, with that figure rising to 99.9% when factoring in medium-sized firms.

SMEs contributed £1.9 trillion to the economy in combined annual turnover last year, accounting for 51% of all private sector turnover in 2017.

60% of the UK business population is made up of sole traders, while 33% are companies and 7% are partnerships.

Margot James, minister for small business, said:

"The UK now has nearly 200,000 more small businesses since last year - meaning more jobs, more opportunities and more choice.

"Small businesses are the backbone of our economy and our Industrial Strategy is building an environment in which they can continue to thrive."

Contact us to discuss your business.

Why Clients Choose Easy Accountancy

Easy Accountancy offers a low cost, fixed fee accountancy package with all clients receiving their own dedicated, friendly, approachable accountant.

All of our accountants specialise in providing accountancy services to the self-employed, freelancers, sole traders, small to medium sized limited companies and private individuals. All accountants are employees of Easy Accountancy and we never outsource or offshore work.

Our low cost, all-inclusive fixed-fee accountancy service includes unlimited access to your own dedicated accountant throughout the year and covers all your business and personal tax affairs needs.

All our accountancy services include:
  - Unlimited access to your accountant
  - Ongoing advice on how to manage your business
  - Proactive tax advice throughout the year
  - Updates and reminders so you'll never miss a deadline
  - Free bookkeeping software

As a sole trader our fees start at just £60 + VAT a month, for this you receive the above plus:
  - Completion of your Self-Assessment tax return
  - Advice on how much Income Tax to pay
  - Guidance on National Insurance contributions

As a limited company our fixed fee packages are bespoke to your needs, however typically you’ll receive the above, plus:
  - Completion of your year end accounts*
  - Completion and submission of your annual return Companies House
  - The director/s Self Assessment tax return
  - Payroll bureau
  - Dividends and corporation tax computations

We’ve saved our clients up to half on their accountancy bills – if you’d like a quote, click on the quote me button to the right of this page. Alternatively, call us on 01442 275767 or email newbusiness@easyaccountancy.co.uk.

*If you would like us to complete your company year end accounts we simply ask that you have been a client of Easy Accountancy for one year or have made 12 monthly payments.