The Small Business Survey 2015 is based on the views of more than 15,000 SMEs. Starting from this year, the survey will track the same businesses over time to better understand their needs as they grow and develop.
Small Business Minister, Anna Soubry, said: “This survey shines a light on the small businesses that drive our economy and employ millions of people across the country – and it is good news that small firms continue to employ more people.
A strong economy underpins the success of our small businesses which is why this government continues to take the difficult decisions needed to keep our economy and businesses strong.”
Research also showed that 95% of employers use the internet for work, 76% have their own website, and 55% have a social media profile.
80 percent of SME’s who applied for finance managed to secure all or part of what they applied for, echoing other recent studies that show the continuing improvement in the access to finance landscape. Bank overdrafts were the most commonly sought type of finance, while peer-to-peer lending and crowdfunding made up 5%.
Results from the survey for businesses with no employees include:
- more than three-quarters of them made a profit in the previous year
- almost half aim to grow their sales over the next 3 years
- 1 in 10 sold products and services overseas
The complete Small Business Survey 2015 can be found at: https://www.gov.uk/government/collections/small-business-survey-reports.
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