Research has found that smaller businesses are taking on more staff.
According to the government’s Small Business Survey of 15,000 SMEs, 24% of employers had more people working for them in 2015 than in 2014.
Only 1 in 10 reported a reduction in staff, down from 21% in 2010.
The survey also found that 95% of employers use the internet in the workplace, 76% have their own website and 55% actively use social media.
Further findings include:
- 81% of SMEs that applied for finance secured all or some of what they asked for
- Bank overdrafts were the most common type of finance
- 5% of finance was made up of peer-to-peer lending
- 30% of employers continue to have issues with late payments
- SMEs are 3% more likely to report higher turnover than last year.
Small business minister Anna Soubry, said:
“This survey shines a light on the small businesses that drive our economy and employ millions of people across the country – and it’s good news that small firms continue to employ more people.”