Number of Private Sector Businesses in the UK is on the Rise

The number of private sector businesses in the UK has increased by 102,000 over the past year, reaching a record-breaking 4.9 million, a news report in business media has revealed.

Number of Private Sector Businesses in the UK is on the Rise image 1

The official figures published by government officials today have revealed that small and medium businesses (also known as SMEs) with fewer than 250 employees make up the large majority of UK companies (more than 99 percent, to be precise).

Furthermore, companies with fewer than 50 employees actually account for near 50% of all companies involved in the UK private sector, while also accounting for almost 33% of private sector turnover.

Enterprise Minister Matt Hancock said: “Britain is turning a corner with a record 4.9 million businesses now trading across the country. There are now 447,000 more businesses than in 2010, an increase of over 10 per cent.

“There is much more to do, not least to make it easier to employ people and create jobs, like with the new £2000 Employment Allowance that from April will cut tax on jobs in every company, large and small.”

Tensor plc has an extensive experience in the development and delivery of workforce management solutions designed to meet the needs of just about any type of business, regardless of its actual size.

Our WinHR suite enables managers to save and easily access a wide array of data pertaining to each of their employees, thus allowing them to better use the available resources and skill ranges at any given moment.

Moreover, Tensor’s range of products offer both a high level of reliability and good value for money, which means that companies who do decide to implement our solutions will immediately see the returns, without taking a hit as far as their balances are concerned.

If you’d like to find out more about the range of workforce management and Time and Attendance solutions supplied by Tensor, just contact us or Book a Demo, our representatives will be more than happy to answer any questions or queries you might have.

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