Skip to content

The rise of the super SME

The rise of the super SME

Vanessa Cresswell

Vanessa Cresswell

Click edit button to change this text. Lorem ipsum dolor sit amet consectetur adipiscing elit dolor

New research has highlighted the significant contribution that Britain’s fastest growing smaller companies are making to the UK economy.

According to a report commissioned by Octopus Investments and produced by the Centre for Economics and Business Research (CEBR), just 1% of the UK’s businesses are fuelling 68% of employment growth and generating 36% of the UK’s economic growth.

These high-growth small businesses (HGSBs) are defined as having an annual turnover between £1 million and £20 million and with average annual growth greater than 20% over a three-year period.

The report found that, on average, these super SMEs created nearly 5,000 new jobs a week from 2012 to 2013 – which represents two out of three of all new jobs created in that time and more than 250,000 jobs across the UK altogether.

Share this with your friends

Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn

More to explore

Valuing Your Business

There are many reasons why you may need to calculate the value of your business. Here we consider the range of methods available as well as some of the factors to consider during the process. It is important to remember throughout that valuing a business is something of an art, albeit an art backed by science!

Read More »

A Limited Company Tax Guide: Everything You Need To Know

Limited companies enjoy a large number of deductions from your taxable turnover. You can deduct the costs of running your business (including salaries) from your tax bill. Mileage, training, and accommodation also count. However,  expenses must fall into the category of being “wholly and exclusively for business purposes.” So, if you use your weekend training trip as a family weekend away, you need to sort your expenses carefully.

Read More »

Trusts

Trusts are a long established mechanism which allow individuals to benefit from the assets whilst others (the trustees) have the legal ownership and day to day control over the assets. A trust can be extremely flexible and have an existence totally independent of the person who established it and those who benefit from it.

Read More »

Taxation of the Family

Individuals are subject to a system of independent taxation so husbands and wives are taxed separately. This can give rise to valuable tax planning opportunities. Furthermore, the tax position of any children is important. Marriage breakdowns can also have a considerable impact for tax purposes. We highlight below the main areas of importance where advance planning can help to minimise overall tax liabilities.

Read More »