Why Start A Business?

25 Start-Up Statistics You Need to Know

We rounded up 25 interesting start-up statistics to help to keep budding entrepreneurs informed and up-to-date with the latest trends. Setting up a new business is incredibly challenging, but knowing the facts will get you one step closer to achieving success. Read on for our 25 statistics on finance, behaviour and predictions for the coming year.

computer-1185626_960_720.jpg
1) Last year, London experienced the biggest surge in small companies, with 500 start-ups for every 1,000 residents. The Telegraph

2) In 2016, there were 5.5 million businesses in the UK – 99% of these were small or medium sized businesses. House of Commons

3) In 2016 tech start-ups in the UK received more investment than any other European country. Startups.co.uk

4) 20% of small and medium-sized businesses were female lead in 2016, and in October 2015 26% of FTSE100 board members were female. House of Commons

5) Since the referendum, The National Association of Commercial Finance Brokers has seen business mortgage enquiries increase – up 75% in October on September 2016.

6) In 2016, total employment in SMEs was 15.7 million; 60% of all private sector employment in the UK. GOV

7) The combined annual turnover for SMEs in 2016 was £1.8 trillion. GOV

barber-1979440_960_720.jpg

8) Men’s haircare, Hygge, Co-living, and Japanese Food are all predicted to be popular business start-ups in 2017. Wales Online

9) 95% of entrepreneurs have a bachelor’s degree or higher qualification. – Serious Startups

10) Tech companies are starting up more often than any other type of business – Serious Startups

11) Having two founders, rather than one, significantly increases your odds of success. You will raise 30% more investment, grow your customers 3 times as fast, and will be less likely to scale too fast. Serious Startups

12) 56% of small business owners expect to grow revenue by improving their existing customer experience and retention. Wasp

13) Out of approximately 7 billion people worldwide, 400 million are entrepreneurs. Which means 1 in 18 people have their own business. Deal Sunny

14) 2 out of 3 people worldwide think entrepreneurship is a good career choice. Deal Sunny

15) 64% of businesses follow other businesses on social media. Business Insider

16) 78% small business owners believe that their personal wellbeing, and that of their employees, directly impacts the health of their business. Xero

17) A third of successful entrepreneurs say they have turned to a mentor or support group, compared to just 14% of respondents who ran businesses that had to close. Xero

18) 72% of small businesses say their main focus is increasing revenue. Business Insider

19) 48% of small business owners agree that their company’s reputation is their most valuable asset. instantprint’s Small Business Survey

20) Only 3% of small businesses use government funding to grow their business. instantprint’s Small Business Survey

21) Small business owners agree that drinking hot drinks and listening to music helps them focus. instantprint’s Small Business Survey

22) 90% of B2C businesses report that social media has become their most popular content marketing tactic. Content Marketing Institute

23) Laurel & Wolf an interior design company, Gametime a ticket selling app and The Skimm a morning newsletter app directed at Millennials, are all listed as start-ups to watch in 2017. Business Insider

24) European start-ups create on average 12.9 jobs in the first 2.5 years. European Startup Monitor

25) More than 90% of start-up founders are satisfied with the way their business is going. European Startup Monitor

We hope these statistics have given you some useful insight into how small businesses and start-ups are currently performing. 2017 is set to be a big year for innovative new businesses and we are very excited to see what the rest of the year will bring!

Do you have any advice for those looking to start their own business? Let us know on Facebook or Twitter!

%d bloggers like this: