Commercial businesses struggling to grow
It seems the recession has encouraged people to look a little further than full time employment and many are spreading their entrepreneurial wings by setting up their own business.
There are now over 3.14 million companies active in the UK, an increase of 3.7% in just the last six months of 2014.
Despite good intentions and many businesses owners still making “a very nice living”, statistics show that those companies that reach income levels in excess of £2.5 million are in fact declining. The last six months of 2014 saw a drop from 23% to 21% of businesses that were managing to achieve this level of turnover.
Similarly, the number of VAT registered businesses also fell from 41% to 39%. Perhaps this is intentional, with business owners deliberately keeping themselves off the VAT radar.
However, this begs a larger question as the UK economy is going to need companies to keep progressing forward to continue stabilising and growing its global position.
Figurit help many commercial business owners grow from average profits to super profits whilst being tax efficient. Call today to discuss your business requirements
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