The number of small and medium-sized enterprises (SMEs) in the UK has grown by almost a quarter over the past five years, new research from Hampshire Trust Bank and the Centre for Economics and Business Research (CEBR) has revealed.

 

The office administration and business sector led the way, as the number of SMEs operating in this niche rocketed by 76 per cent between 2011 and 2016.

 

Human health services and the motion picture, video, TV, sound recording and music area also saw a hefty increase in the number of SMEs, both growing by 50 per cent.

 

“The service industries account for around 78 per cent of UK GDP, hence it is encouraging to see that over the past five years growth in the number of SMEs has been particularly strong in these sectors,” said CEBR’s Nina Skero.

 

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