UK Small Business Overview Market Report 2020
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Providing the most comprehensive and up-to-date information and analysis of the UK Small Business market, including the behaviours, preferences and habits of the consumer.
While the widespread disruption of the COVID-19 saw a large impact on many businesses, small businesses were initially more resilient than medium or large businesses in the SME category. With small businesses making up 99% of all UK businesses, the diversity across virtually all areas of business gave them more protection against the harsher hit sectors such as hospitality.
The number of small businesses increased in 2020, growing by 7.4% in the first three quarters of the year. However, with lockdowns announced for January 2021, smaller businesses are predicted to hit harder in the second half of the year. While government support has helped to buoy SME businesses, small businesses may begin to suffer under economic pressures as that support is withdrawn throughout 2021.
Coming out of the pandemic, there will be new opportunities as we enter the recovery period. Market anomalies created by Brexit and the pandemic will give businesses new innovation, opportunities, with much of the predicted impact minimised thanks to Brexit trade agreements.
Read on to discover more details or take a look at all of our UK Industrial market research.
Small Business Types: Agriculture, mining, manufacturing, construction, wholesale, retail, transport, accommodation, information, real estate, professional, administration, education, health, arts.
Written by Terry Leggett, a leading analyst in the B2B sector, his extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
Small businesses are active in virtually every sector of the UK economy and so some have been strongly impacted by COVID-19. However, the evidence is that during the first wave they performed better than the UK average, but equally they are expected to suffer to a greater extent in the aftermath of the second wave of infections.
Terry Leggett
Senior B2B Analyst
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
*databooks not available with UK B2B Industry reports.
Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.