Official statistics released by the Department for Business, Energy and Industrial Strategy shows the number of private sector businesses in the UK has hit a record high.
The number of new businesses in the UK has increased 23 per cent since 2010. At the start of 2016 there were 5.5 million private sector businesses in the UK, including a million more small businesses, 4,000 more medium-sized businesses and 900 more large businesses.
Business and Energy Secretary Greg Clark said: "Britain’s businesses are the heroes of our economic revival and it is great to see the number of businesses rise by over a million since 2010.
"Our job creators don’t always get the praise and respect they deserve but we should be proud of our entrepreneurs, business leaders and innovators. The government is committed to ensuring Britain builds on its success and is the best place to start and grow a business.
Commenting further, Adam Marshall, Director General of the British Chamber of Commerce, said: “It’s great that the UK remains a fantastic place to start a business, and that we’re seeing more firms making the leap from start-ups to larger firms.
“The challenge now, at a time of transition and change, is to ensure the best possible environment for businesses to invest, recruit and grow.”
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