BRITISH PROFESSIONS TODAY: THE STATE OF ... - Property Week

The professional economy continued >>
3.2 Business creation
The number of new businesses registered each year indicates
the approximate rate of new business creation, a measure
of ‘entrepreneurialism,’ the state of business optimism, and
(inversely) barriers to market entry.
VAT registrations and deregistrations
as a percentage of stock
16
14
Deregulations
Registrations
Business creation has been relatively high in the professional
sector, with VAT registrations as a percentage of stock
exceeding deregistrations, indicating a marginal expansion in
total stock. Of the 371,235 registered professional businesses,
VAT registrations account for 11.1% of stock, while
deregistrations account for 7.8%. The stock of businesses is
the largest single block in the British economy (IDBR 2006/
SSDA Sector Skills Matrix 2008).
12
10
8
13.5
12.7
6
11.4
10.8
11.1
10.1 9.8 10 10
4
8.3
8.6
7.8 8.0 7.9 8.0
7.4
7.1 7.3
7.5
6.7
6.8
6.8 7.0
6.0
5.4
2 4.4
4.1
2.7
1.0
0
0.5
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
Source: IDBR 2006/SSDA Sector Skills Matrix 2008
1 Community, social, personal service activities
2 Health and social work
3 Education
4 Public admin and defence; compulsory social security
5 Law, accounting, architecture and other business activities
6 Real estate, renting and research and development
7 Financial services
8 Wholesale and retail trade
9 Transport, storage and communications
10 Hotels and restaurants
11 Construction
12 Electricity, gas, water supply
13 Mining and quarrying
14 Agriculture, hunting, forestry, fishing
15 Manufacturing
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