Records on business and job figures
THE number of private sector businesses in the UK has hit a record high, according to new figures.
All but a small minority of the 4.8m firms in business are classified as SMEs whih account for 59.2% of private sector employment and 48.8% of private sector turnover.
Business Minister Michael Fallon said: “Today’s figures show that we now have a record number of private sector businesses in the UK.
“We have always said that private sector is central to healing and rebalancing our economy and this increase is another encouraging sign.
“We know that our entrepreneurs drive growth, so we will continue to do everything we can to help unleash and unlock entrepreneurs’ potential. The additional tax relief for angel investment, reforms to employment law, investment in business mentoring and further cuts in red tape are just some of the actions government is taking to create a better business environment.”
The latest employment figures, published earlier today, showed unemployment fell by 50,000 to 2.53m in the three months to August while the number of people in work hit a record high of almost 30m.
