27 Percent of Small UK Businesses Plan to Create Jobs Over the Next Twelve Months

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Nov 21, 2011, 07:36 ET

LONDON, November 21, 2011 /PRNewswire/ --

Research from Simply Business the UK's largest business insurance broker, indicates that 27 percent of small businesses could be planning to increase their employee numbers over the next 12 months.

There are 1, 178,745* small businesses in the UK with at least one employee. If 27 percent of these businesses create just one job this would equate to 318,261 new jobs in the UK. The potential impact of these newly created jobs would see unemployment figures fall from their current 17 year high of 2.62 million** to a little over to 2.3 million.

Currently around 60 percent of unemployed people claim Job Seekers Allowance**. The creation of these jobs could result in 198,139 fewer people claiming Job Seekers Allowance and equate to minimum weekly government saving of more than £10.5 million***.

Simply Business, commissioned the UK SME Trends survey to build a picture of the predictions for 2012 from the small business owner's perspective. The research covered topics including marketing spend, projected revenue, funding sources, headcount changes, sales and finance plus other priorities and predictions for the next 12 months. 374 UK SME business owners and decision makers took part in the survey in October 2011.

Jason Stockwood CEO of Simply Business said:

"The optimistic picture these SMEs paint is heartening in these tough times. When you consider that SMEs account for 99.9 per cent* of the total enterprises in the UK and provide over 59 per cent* of the jobs in the private sector their continued success and growth is key to our economic recovery."

To see infographic created by Simply Business about this visit: http://www.simplybusiness.co.uk/knowledge/news/2011/11/2011-11-18-if-27-percent-job

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Notes to Editors

Simply Business commissioned the UK SME Trends survey in October 2011. 374 UK SMEs took part. See http://www.simplybusiness.co.uk/knowledge/articles/2011/09/2011-09-12-sme-trend-small-business-survey-uk/ for further information.

*Figures taken from the Business Population Estimates for the UK and Regions 2010 issued by the department for Business Innovation and Skills, published by the ONS. http://www.bis.gov.uk/analysis/statistics/business-population-estimates

**Figures taken from Labour Market Statistics November 2011, published by the ONS. http://www.ons.gov.uk/ons/rel/lms/labour-market-statistics/november-2011/index-of-data-tables.html

***Figures taken from http://www.direct.gov.uk/en/MoneyTaxAndBenefits/BenefitsTaxCreditsAndOtherSupport/Employedorlookingforwork/DG_10018757

About Simply Business

Simply Business is the UK's largest business insurance provider.

Launched in 2005, the full service insurance specialist identified a need to improve insurance offerings for the UK's millions of small businesses whose needs were neglected by established insurance and broking companies. Where the traditional broking model was slow-moving and inflexible, Simply Business developed an agile and online brokerage service which was able to deliver bespoke policies tailored to their individual and often very specific requirements. Its online offering is supported by a dedicated, UK based team of insurance specialists who provide a tailored and personal service more commonly associated with broker relationships.

Today, Simply Business insures over 170,000 small business customers, more than any other UK broker. It has been a Sunday Times Tech Track 100 company for the past three years, with offices in London and Northampton, and employs over 140 people. Simply Business revenues have grown 44% a year from £4.2 million in 2006, to £12.5 million in 2009.

SOURCE Simply Business