Business Start-ups Sector ‘Thriving’

There were apparently 365,600 private sector businesses (registered & unregistered) operating in Scotland as at March 2017, which is an increase of over 50% since 2000.

 

The figure represents an increase of 11,110 (3.1%) over the year, taking the number of businesses in Scotland to its highest level in the 17 years since the figures were first recorded.

 

The number of these firms that are VAT/PAYE registered is up for the sixth year in a row, by 2,405 (1.4%), from 173,995 in 2016 to 176,400 in 2017 – and is also at a record high.

 

And the estimated number of unregistered businesses (the smallest firms with an annual turnover below the VAT threshold of £83,000 and do not have employees) rose from 180,500 in 2016 to 189,200 in 2017 – an increase of 8,700 (4.8%).

 

“These figures show Scotland’s business scene is thriving, and the rise has been driven in particular by the success of our small business start-ups,” commented Scottish Government Minister for Business, Innovation and Energy, Paul Wheelhouse. “But it is very encouraging to see the growth in the number of VAT registered businesses too.”

 

The Business in Scotland 2017 report shows that the two largest industry sectors were ‘Professional, Scientific & Technical Activities’ (52,985 enterprises) and Construction (45,940 enterprises). Together, these two sectors make up 27% of all private sector enterprises in Scotland.

 

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