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The UK SME allowance bazaar saw bashful advance in 2017, as it grew by 1.4% to £7.8bn. But the bazaar ambiance has been challenging. Brexit ambiguity has slowed GDP growth, which is intrinsically affiliated to the SME market, with altitude amiable as insurers and reinsurers accept faced no above incidents banishment cogent payouts. There accept been several factors antidotal this, which resulted in the actual slight advance apparent in 2017. The change to the Ogden amount has apparent ante harden, decidedly in motor-based categories, which accept apparent able advance in exceptional prices back 2016. Yet the cardinal of registered businesses ascent in 2017 was abundantly countered by a acceleration in liquidations and a abatement in assimilation ante for insurers. This has been abnormally accustomed amid micro businesses – a articulation insurers abide to attempt to appoint with.
– Micro businesses annual for 95.7% of UK clandestine area enterprises but aloof 22.0% of turnover.- Cyber allowance uptake is on the acceleration as the affair appearance heavily amid SMEs’ top concerns.- 38% of SMEs are anxious about the implications of Brexit.- The UK SME allowance bazaar is anticipation to be account £8.3bn by 2022.
Reasons to buy
– Be acquainted of the acceptation of SMEs aural the bartering allowance bazaar and how they are afflicted by the UK economy.- Adapt your action and ensure you abide aggressive by compassionate the opportunities for advance aural the SME allowance market.- Recognize the challenges the SME allowance bazaar faces.- See our forecasts for the SME market.
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Table of Contents
1. EXECUTIVE SUMMARY 21.1. The SME bazaar has adjourned due to boxy bread-and-butter altitude 21.2. Key allegation 21.3. Critical success factors 22. THE SHAPE OF THE UK SME SPACE 72.1. The SME bazaar is the courage of the UK abridgement 72.1.1. The cardinal of UK SMEs continues to grow, apprenticed by micro enterprises 72.1.2. UK GDP advance remained apathetic throughout 2017 102.1.3. The cardinal of aggregation liquidations rose afresh in 2017 afterwards falling amid 2008 and 2015 122.1.4. Construction leads the SME bazaar by business numbers, while broad dominates about-face 142.1.5. The cardinal of companies registered has risen admitting an access in dissolutions 162.1.6. Business and customer aplomb accept been afflicted by the achievability of a no accord Brexit 182.1.7. UK unemployment continues to abatement to almanac lows 192.1.8. Business profits are acceptable to abatement if domiciliary disposable assets is awkward 202.2. Key issues affecting SMEs 212.2.1. Pension contributions, barter rates, and business ante beggarly costs accept army for SMEs 212.2.2. Ascent application costs and bread-and-butter ambiguity accept led to growing use of freelancers 262.2.3. The government and banks are aiming to atom advance in SMEs 272.2.4. The accomplishment area is best at accident from a no accord Brexit 282.2.5. The end of abandon of movement will hit aliment and alcohol manufacturers hardest 292.2.6. SMEs are best anxious about Brexit and cybercrime 30
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