The Importance & Secrets of the UK's SME Network

THE IMPORTANCE & SECRETS OF THE UK'S SME NETWORK SMES are the lifeblood of our economy. Although representing a significant segment of the country's employment and turnover, many SMES continue to struggle to obtain finance from the banks. This infographic provides a snapshot of our SME network, its critical importance, and why SME financing should remain high on the Government's list of priorities. SCALE & GROWTH UK SMES represent 18% of UK turnover at In 2013, there were 99% SMES of 4.9 million businesses in UK £1,600bn employ 0-249 people SME POPULATION GROWTH SPREAD OF SMES 2011-2014 ACROSS ENGLAND (2013) SCOTLAND 14.50% North East "135K ENGLAND Yorkshire & Humber 353K WALES 14.60% t0.30% NORTHERN IRELAND North West 480K East Midands 314K +-1.90% West Midands 379K East of England 505K SMES only 18% represent of total advertising spend South West 467K London 839K South East 790K Among businesses with more than £10 million turnover, only 46% currently advertise The number of SMES in the UK has reached its highest point 46% since economic downturn when 52% of SMES predict strong or improved growth for their business during the first six months of 2014 80,615 + 52% + of the sector's business disappeared BY SECTOR EMPLOYMENT 000000000000 SMES account for around Post 2011 growth caused SME numbers to grow in 18 out of 20 industries 50% of private sector employment in the UK Population Increase Sector (2011-2013) Professional, Scientific & Technical +35,905 Information & Communication but 32% of overall employment +18,025 Health +6,535 EXPORT Property +5,580 56% Agriculture +4,765 of small businesses want to export in 2014 Education +3,540 Only 19% of UK SMES export products and services (compared to 25% of the EU's SMES) Manufacturing +3,435 FINANCE IN 2013 46% SMES using loans or overdrafts of SMES apply for finance 3333333333 -2011 2013 29% 23% More than 5 in 10 SMES were paid late by large companies a week before needing it or after it is needed For small firms being paid late A quarter of SMES review their financing needs every month 34% say it results in reduced profitability When planring to obtain external finance, only 5% of businesses seek information from external advisers i with 3% talking to their accountants first 27% of SMES have never reviewed their financial needs 32% say they pay their suppliers late Of the SMES that external finance most spend less than an hour Fear of losing contracts is a big issue for SMES - only 12% charged interest to clients for overdue payments for fear of losing business 29% say it restricts business growth each time they consider their finance product options Platform Black SOURCES: • Federation of Small Businesses Awlva · Deloitte . Department for Business Innovation a SKlls Forbes · National Association of Commercial Finance Brokers (NACFB) • Omce for National Statistics www.plattormblack.com