Exclusive analysis shows the number of businesses with between five and 249 employees in our region hit a record high in 2018.
According to the latest figures from the Office for National Statistics (ONS), last year there were 24,620 SMEs in our region.
That was up from 24,465 in 2017, and is the highest number since figures began in 2010, when there were 20,810 SMEs.
Across the 海角视频, there were 274,420 SMEs in 2018.
This was the highest number recorded since at least 2010.
The number of SMEs in the 海角视频 has been rising steadily since 2011, and is up from 230,130 in 2010.
According to a recent research by the Economic and Social Research Council (ESRC), SMEs contribute 47 per cent of revenue to the 海角视频 economy, and have a key role in boosting 海角视频 productivity.
According to the latest small business survey by the Department for Business, Energy & Industrial Strategy, 40% of medium-sized businesses said they had increased their number of employees between 2017 and 2018.
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A fifth of SME employers exported goods or services (27% in Northern Ireland and 33% in London).
Of these, 78% exported to the EU, and the next most popular international market was the USA, where 40% of exporters made sales.
Tom Hadley, Director of Policy and Campaigns at the Recruitment and Employment Confederation said: “The growth of SMEs tells a positive story of an economy that is still creating opportunities for people and for businesses up and down the country.
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“At the same time, the REC’s JobsOutlook report this week shows employer confidence in the economy is at a low point – this is why SMEs need an end to the crippling Brexit uncertainty.
“Looking ahead, the challenge for SMEs is attracting the right staff and skills to continue growing their business, with the employment rate at its highest point ever and candidate availability decreasing month-on-month.
“JobsOutlook data shows that three quarters of employers have little or no spare workforce capacity. “This will intensify the need for effective hiring strategies when business confidence returns and demand for services and products increases.”