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Number of businesses shoots up in 2010

People letting out office space in London and the rest of the UK may be interested to hear that there was a huge increase in the number of businesses last year.

The figures were up by 48,000 across the whole country at the start of 2010, bringing the total of private sector businesses to 4.5 million, according to statistics from the Department for Business, Innovation and Skills.

Further statistics showed that the businesses, many of which may be based in serviced offices, employed around 22.5 million people and had an estimated combined turnover of £3,200 billion.

Business and enterprise minister Mark Prisk said: “Private sector enterprises will create growth in our economy so it is encouraging to see that the number of businesses at the start of 2010 had increased. This was a difficult period, and these figures show the resilience of British business.”

Small businesses were in the news earlier this week when it was revealed that banks taking part in Project Merlin, which aimed to increase lending to SMEs following the recession in a partnership with the government, had failed to reach its lending target by more than £2 billion.