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Overview of uk Businesss in 2024
In 2024, the UK hit 5.6 million private sector businesses, marking a 0.8% increase and showcasing a resilient business environment.
SMEs are pivotal, making up 99.9% of businesses, employing 16.7 million people (61% of employment), and generating £2.4 trillion in turnover (53%).
Since 2010, the UK business population has grown by 24%, with small and medium-sized firms significantly contributing to economic vitality. Businesses are spread uniquely across the UK, with London and the South East leading, but all regions playing a crucial role in national economic health.
UK businesses, particularly SMEs, excel in sectors like Tourism & Hospitality, E-commerce, construction and tech, driving innovation and competitiveness in the global market.
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