Does the data for marketing exist to support your intended growth strategy? For instance, did you know that SME’s account for 47% of turnover in the UK private sector? Companies with 250 or more employees represent only 0.1% of total number of businesses in the UK.
Last year, we wrote an article titled “Do you know your data universe?”, in which we posed the question; how well do you actually know the available and targetable business universe in the country or countries you are looking to market too?
We detailed the requirement to find reliable research at a high level within the country you are looking to obtain data for and introduced you to BIS.
A reminder of who they are might be appropriate. The BIS are the Department for Business Innovation & Skills. They are a government department responsible for amongst other things a whole load of statistical research into the UK economy and they regularly produce and release national statistics and reports covering a plethora of different areas.
The report of most interest from a B2B targeting point of view, The Business Population Estimates for the UK and Regions 2014, has once again been released and updated from the previous year.
Some highlights include:
- There were a record 5.2 million private sector businesses at the start of 2014, the first time the business population has exceeded 5 million. This is a record annual increase of 330,000 businesses (up 6.7% since the start of 2013).
- There has now been sustained growth since 2000, with an increase of 1.8 million (up 51%) over the whole period.
- At the start of 2014, 99.3% of the 5.2 million private sector businesses were small and 99.9% were small or medium sized (SMEs).
- Three main categories of business make up the overall population: at the start of 2014 there were 1.5 million companies (29% of the total), 460,000 self-employed partnerships (9%) and 3.3 million sole proprietorships (62%).
We hope that you find this interesting piece of research helpful and as always if you would like to discuss any of your data requirements in more detail, please do not hesitate to contact a member of our team.