With Ryan Deiss
With Marcus Murphy
Small Business Owners and Entrepreneurs, are experts in their own field, but this field is not usually sales and Marketing. There is no reason why it should be. But this is an important skill for which larger companies can afford to employ a team.
How can you compete?
There were 5.6 million small businesses at the start of 2018.
Compared with the previous year, the private sector business population fell by 0.5% (-27,000 businesses) whilst conversely private sector employment increased by 2% (+304,000).
This contrast is attributable to the number of smaller non-employing businesses falling by 1% (-50,000) but the number of larger employing businesses rising by 2% (+23,000).
The decrease in the business population is the first fall in the series, which started in 2000. However, there were still 2.2 million (+63%) more businesses than in 2000.
Small businesses accounted for 99.3% of all private sector businesses at the start of 2018 and 99.9% were small or medium-sized (SMEs).
Total employment in SMEs was 16.3 million; 60% of all private sector employment in the UK.
The combined annual turnover of SMEs was £2.0 trillion, 52% of all private sector turnover.
In 2018 there were 1.4 million employing businesses and 4.3 million non-employing businesses. Therefore, 75% of businesses did not employ anyone aside from the owner(s).
The overall business population includes three main legal forms: there were 3.4 million sole proprietorships (59% of the total), 1.9 million companies (34%), and 405,000 ordinary partnerships (7%).
Of the 5.7 million businesses, 45% (2.6 million) were registered for VAT or PAYE.
Between 2000 and 2017, there was sustained growth in the business population each year but most recently there has been a fall of 27,000 businesses (-0.5%) between 2017 and 2018. Nonetheless, there were still 2.2m (+63%) more businesses than in 2000.
The majority of population growth since 2000 has been due to non-employing businesses, which accounted for 87% of the overall increase.
Between 2017 and 2018, whilst the number of employing businesses increased by 23,000, non-employing businesses fell by 50,000, resulting in an overall decrease of 27,000 businesses.
The number of companies has increased in the last year by 31,000 (+2%) whilst the number of sole proprietorships and ordinary partnerships fell by 49,000 (-1%) and 9,000 (-2%) respectively.
Beverley has been involved with Marketing for over 40 years, starting her career with J. Walter Thompson in Mayfair, London, before moving on to work for subsidiaries.
Beverley then ran her own small businesses in various customer facing industries and has been involved in Retail and Hotel Management.
This gives her vast experience in the areas of Managing and Marketing small businesses.
Her husband Edward, an Engineer, has been working with computers and other technologies, also for over 40 years.
He has also run his own small businesses in engineering and transferred the web design skills he needed for his own company site to help others with theirs.
They have since helped a number of small businesses and entrepreneurs to successfully take their ventures online.