THE number of private sector businesses in Scotland has hit a record high, figures show.
There were an estimated 356,550 such businesses in Scotland as of March 2019, according to official Scottish Government statistics, the highest number since current records began in 2000.
In the year to March 2019, the estimated number of businesses rose by 9755 (2.8%), driven by an increase in those which are unregistered. This means that the number of businesses operating in Scotland grew by 26 per day over the year long period.
Known as micro-businesses, these organisations are sole proprietorships and partnerships which have an annual turnover below the £85,000 VAT register threshold and do not employ others so do not require to be PAYE registered.
These rose by 7270 to 177,770 between March 2018 and March 2019, an increase of 4.3%, and now comprise 49.9% of all private sector business in Scotland.
The number of registered businesses also increased during that period – up by 2485 (1.4%) to 178,780 – also the highest since current records began.
Since 2000 the number of unregistered businesses has almost doubled.
The Businesses in Scotland 2019 report also shows that as of March 2019, there were 354,125 small and medium-sized enterprises (SMEs) in Scotland, providing an estimated 1.2 million jobs.
These accounted for 99.3% of all private sector businesses, 55.4% of private sector employment, and 41.5% of private sector turnover.
Business Minister Jamie Hepburn (above) said: “The Scottish Government continues to work with its partners, including Business Gateway and the enterprise agencies, to ensure a supportive environment that responds to the needs of businesses and that has led to a record number of businesses in Scotland.”
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