The current state of the UK private sector market
According to Government data, there were over 5.7 million businesses in the UK at the end of 2017. 99% of which were SME’s* (small and medium enterprises). In addition, more than 2 million of those businesses are based in London and the South East, with the latter containing 929,000.
This amounts to just under 1,300 business per 10,000 residents in the South-East, whilst that figure rises to just over 1,500 per 10,000 residents for London. Although 40% of employment and 49% of turnover is still accredited to large businesses.
When reviewing the data by industry sector, the UK has more than half a million retail businesses and over one million construction companies. However, the vast majority of UK businesses are part of the service sector, which is made up of a staggering 4.3 million businesses.
Overall, there was a net increase of 87,000 new businesses by the end of 2016 – taking into account those businesses which had ceased trading in the UK.
What does this mean for your business?
Wherever your business is located in the UK, you have probably realised that you face stiff competition. Furthermore, you will be confronted by other daunting challenges that are interfering with your business gaining traction in your marketplace
Understandably, you are wondering how to make your business stand out from the large and vociferous crowd to gain a competitive edge. How can you discover, attract and connect with the right audiences, and compel them to spend their hard earned cash on your ideas?
Private sector businesses in the UK by number of employers
It is important to consider why people choose some brands over others. You need to understand the actions that you should take to succeed. To guide you on this journey, we have put together the following useful tips and suggestions. If implemented correctly, these tips will help you create a positive and successful brand identity, which will make your business look, feel and sound different to the competition.
If you would like to read more and understand what brand design can do to help your business stand out from the crowd, then we have put together 5 Essential Tips to Create a Successful Brand. You can download this helpful white paper for FREE by clicking the button below and completing the subscription form.