Small businesses find going tough
Government figures showed the numbers of small businesses shutting up shop had increased by more than 5%.
Link: SMEs ‘wasting’ profits
At the same time the number of companies registering for value added tax increased by just 0.7%, while overall the number of VAT registered businesses fell by 200 last year.
The business service sector continued to show the most growth. The Small Business Services said the sector had grown by 190,000 companies in the past nine years to 500,000.
In contrast manufacturing is continuing its decline with 5,000 fewer businesses at the end of last year.