Enterprise Boom as Small Companies Thrive

The number of active small and medium enterprises in the UK reached a six-year high of 2.2 million following two successive years of growth

Emma Wall 17 December, 2013 | 4:45PM

Entrepreneurial spirit is alive and kicking in Britain. The number of small and medium-sized enterprises (SMEs) has reached a six year high, finally recovering from the global recession. 

There are now 2.16 million SMEs in the UK, a six year high according to the SME Growth Monitor from the National Association for Commercial Finance Brokers (NACFB).

Following the global recession in 2008, Britain lost 80,615 small businesses across the sectors. But since 2011 there has been a boom in nine out of 10 industries, far outpacing their large cap peers. Only construction and wholesale continue to see small businesses going under. Professional, scientific and technical industries saw the largest growth in the number of small businesses.

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Emma Wall  is former Senior International Editor for Morningstar

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