GUEST ARTICLE: Construction second in industry sectors offering success with new start-ups

The UK Domain has analysed the latest available data from the Office for National Statistics (ONS), which shows the number of micro, small and medium-sized businesses to be established between 2007 and 2017; the report helps understand which SME sectors are the most and least successful, with construction the second most successful.

The report indicates which ones are the best to venture into if you are thinking of planning, building and starting your own business as well as those that appear to struggle.

First, The UK Domain, the online resource providing free small business advice, looked at statistics across more than 2.6m micro, small and medium-sized businesses that exist within 18 core industries. 

The examined data provides information on how likely these businesses were to thrive over certain periods of time, up to 10 years and over.

Summary of the key findings

 – With a total number of 478,070 businesses started between 2007 and 2017, the professional, scientific and technical sector enjoys the most success.

 – Coming in second was construction with 319,555 businesses, third was business administration and support services with a 227,120 total and fourth was information and communication, standing at 216,640.

 – Production tops the list when it comes to accounting for medium-sized businesses with a total of 6,395.

 – Across all micro, small and medium-sized businesses, the construction industry had one of the highest numbers of enterprises with a grand total of 319,555.

Across all micro (one to nine employees), small (10 to 49 employees) and medium-sized (50 to 249 employees) businesses, the industry which has the highest total of enterprises (147,730) is the professional, scientific and technical sector.

Coming in second was construction (319,555), third was business administration and support services (227,120) and fourth was information and communication (216,640).