UK SMEs enter potential new Golden Age
Following the announcement from the government that Plan B restrictions are set to end on 26th January, along with the easing of supply chain issues globally, it seems that SMEs across the UK could finally be offered some good news. These welcome developments come shortly after the recent reports that found London had beaten New York in winning the title of the best city in the world to be a young entrepreneur – with 115 entrepreneurs in the Forbes Under 30s list being based in the capital. The UK also ranked second in the list of most popular countries to be an entrepreneur, with 14% of Forbes Under 30 entrepreneurs being based in the UK.
In 2021, there were a record 319,000 new businesses registered in the UK, with the number of retailers in the UK increasing by 15%. The number of small businesses in the UK now stands at 5.5 million, with recent research showing that two-thirds of the UK workforce want to start their own company. The figures demonstrate the continued desire, accelerated by the pandemic, to start a business in the UK.
Small businesses and SMEs being run by young entrepreneurs have adapted in amazing ways in the UK not just to survive, but to flourish, making them more versatile, robust, and ready for the future. With 16% of UK investors looking to back start-ups and newly formed businesses, it seems they will be given a platform to continue the success and progression of their companies. The community and investors are ready to back small businesses and small businesses are ready to maximise this exciting opportunity.
SMEs in the UK have worked incredibly hard to navigate the challenging business environment over the past year caused by the emergence of the Omicron Covid strain combined with the severe issues in the global supply chain. However, with Plan B ending and global supply chain issues gradually easing, 2022 could spell the start of a truly golden age for SMEs moving forward.
There is a huge amount of ambition and talent throughout the UK small business ecosystem, and it is an exciting time for SMEs, both from an investing and business standpoint. At IW Capital, we are always searching and looking to invest in small businesses in their growth journey to provide them with the opportunity to thrive and succeed. It’s great to see the shift from the UK public to have the desire to choose small businesses which paints an optimistic picture for the coming months which are normally crucial for businesses.
To find out how IW Capital could maximise your investment opportunities, please contact the team today on 020 7015 2250, or email info@iwcapital.co.uk.