Finance for Small and Medium-Sized Enterprises - DTI Home Page

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Finance for Small and Medium-Sized Enterprises: A Report on the 2004 UK Survey of SME Finances Figure 2.1.5: Distribution of Businesses by Regions 7% 6% 7% 5% 8% 5% 3% 3% 9% London South East East South West North West West Midlands Yorkshire and Humberside East Midlands Scotland Wales North East Northern Ireland Base: All businesses N = 3,625,416 (Unweighted N=2,500) p • 38% of SMEs are located in London and the South East (1,400,000 businesses) • 87% of SMEs are located in England (3,150,000 businesses). SBS (2003) report a figure of 86% for businesses with employees. • 5% are located in Scotland (against 7% reported in SBS, 2003) • 5% are located in Wales (against 4% reported in SBS, 2003) • 3% are located in Northern Ireland (same figure in SBS, 2003). 9% 21% 17% 35
Finance for Small and Medium-Sized Enterprises: A Report on the 2004 UK Survey of SME Finances Figure 2.1.6: Distribution of Legal Forms 24% 9% 1% Sole Trader Limited Company Partnership Limited Partnership Base: All businesses N p = 3,625,416 (Unweighted N=2,500) • Almost 2 in 3 businesses are sole traders (2,400,000 businesses) • Less than 1 in 4 businesses are limited liability companies (870,000 businesses) • About 1 in 10 businesses are partnerships (including limited liability partnerships). • E xcluding businesses with no employees the proportions are: 29% sole traders; 49% limited liability companies; and 22% partnerships. Comment The pref erence for sole trading may reflect the entrepreneurs’ desire for independence and control over their business. Alternatively, this preference may simply reflect the comparative ease of setting up as a sole trader. Regarding businesses with no employees, compared to SBS (2003) there is a lower proportion of companies and a higher proportion of sole traders (SBS, 2003, reports figures of 59% and 21% respectively) Start-up s and high growth businesses The recen t Graham (2004) report highlighted ongoing concerns regarding access to capital for start-ups and high growth businesses. From a social viewpoint these businesses are important because they are potentially significant employers. However they may also appear risky to lenders, because they lack a track record or their performance is volatile. Here, we look at the relative importance of these businesses in the business population. 66% 36
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Finance for Small and Medium-Sized Enterprises - DTI Home Page

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