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Small firms account for 99% of private sector
There were a record 5.5 million private sector businesses in the UK at the start of 2016, according to figures published by the Office for National Statistics. The figures have revealed that small firms accounted for 99.3% of all private sector businesses and were responsible for 48% of all private sector employment in the UK. The figures also indicate that 76% of firms do not employ anyone except the owner. Overall, the number of private sector businesses increased by 59% between 2000 and 2016, with non-employing firms accounting for 89% of this increase.