Big business still provides most employee jobs
I’ve heard it said twice in the last couple of weeks that small businesses provide most of the jobs in the UK. Perhaps unsurprisingly, this is not actually born out by the figures.
Rumours of the demise of big firms are premature. In fact, 49. per cent of private sector employees still work for large businesses (defined as employing 250 people or more), 15.5 per cent work for medium sizes businesses (50-249 employees) and 34.8, work for small businesses (1-49 employees).
Without underplaying the contributions that small enterprises make to the UK economy, it is also a fact that 3.4 million UK businesses are sole traders – eg they consist of 1 self-employed person working alone. Sole traders account for 75.6 of all UK businesses. Most will at best continue to be “trundlers” rather than taking off in a big way.
Finally, add the public sector into the equation, and we find that just 8,600 enterprises account for 52.2 per cent of all UK employees.