Gig workers and SMEs drive UK's economy

According to new research

Businesses across the country are going from strength to strength with ‘gig workers’ and small businesses growing rapidly over the past ten years.

Companies with zero employees have seen strong uplift with this sector now accounting for four-million of the UK workforce, with London seeing a 45 per cent increase in this sector since 2010 alone. The likes of Uber drivers and Deliveroo cyclists have become the face of the ‘gig economy’, according to figures analysed by Swinton Business in its business trends report.

The number of companies in the UK grew by 555,160 (21.6 per cent) from 2,574,225 to 3,129,385, between 2010 and 2017. England has led the way as 512,500 businesses have been established, Elsewhere, Scotland created 28,455 (a growth of 14.7 per cent), Wales 12,865 (a growth of 11.4 per cent) and Northern Ireland 1,340 (a growth of 1.6 per cent).

Richard Beaven, distribution director at Swinton Business, said: “Over recent years, the UK economy has faced significant challenges and uncertainty, so it is heartening to see that the nation’s entrepreneurial spirit still appears to be so strong and particularly amongst the small business and gig worker communities.

“Our business trends report explores how small and medium businesses make a significant contribution to the economy and have the potential to help drive future growth, which we can clearly see in the previous growth in business sizes across all sectors.”

Swinton’s business report has been published as the company launches its first ever online ‘quote and buy’ system aimed at speeding up business insurance quotes for tradesmen and small business owners.

The system provides an alternative communication channel, whilst offering expert support from Swinton business contact centres and eliminating any ‘nagging doubts’ that business owners may face over insurance.

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