Number of UK businesses up but insurance remains static
The number of insurance and financial services businesses operating in the UK has remained flat in the last year – bucking an increase in the total number of businesses.
Data released by the Office for National Statistics (ONS) revealed a 18,000 (0.9%) rise in the number of registered businesses in the year to March 2013.
But the number of insurance and finance firms stayed steady at 46,000, compared with a 7% rise last year from 43,000. The ONS did not publish a breakdown of insurance and financial services.
Insurance and financial services companies made up 2.1% of the 2.17 million businesses registered for VAT or PAYE in the UK in March.
The professional, scientific and technical sector overtook wholesale, retail and motor repair and now accounts for the largest number of businesses (16.9%).
There was a 5.3% reduction in the number of sole traders and partnerships, while corporate businesses increased by 4.4%.
No comments yet