The latest figures show that the number of private sector businesses in the UK increased significantly to 4.8 million at the start of 2012 – a record high.
This is an increase on last year’s figures, which showed there were 4.5 million businesses in the UK at the start of 2011.
The statistics, published by the Department for Business, Innovation and Skills, also show:
•The 4.8 million private sector businesses employed an estimated 23.9 million people and had an estimated turnover of £3,100 billion •Of the 4.8 million private sector businesses, 99.9 per cent of them were small and medium sized enterprises. •SMEs also account for 59.2 per cent of private sector employment and 48.8 per cent of private sector turnover.
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