UK statistics

The scale of micro and small businesses in the UK

99.9% of UK businesses are small or medium sized. 95% are micro-businesses (0–9 employees). Together micro, small and medium sized businesses employ 16.7 million people (61% of total private sector employment).

Time spent finding information and administration burdens

Small business owners spend an average of 12 hours each week on admin, and more than a quarter say this has a negative impact on their productivity and ability to grow.

4 in 10 small businesses say finding the right information and support is a significant barrier to running or growing their business.

Lack of accessible advice and support outside office hours

38% of small business owners work more than 50 hours a week, including evenings and weekends.

6 in 10 micro business owners report feeling isolated in decision-making, citing a lack of accessible, trusted guidance.

Digital adoption and confidence gaps

8 out of 10 small businesses use digital tools yet many struggle to navigate online information.

1 in 3 small business owners aren’t confident they know where to turn for trusted, unbiased business advice.

Source: Lloyds Bank, UK Business Digital Index 2023 (as above).

Financial fragility and the need for fast solutions

Over half of small and medium businesses have less than three months’ cash reserves, so are likely to be vulnerable if there are operational delays or poor decisions.