The UK is now home to more than 2 million micro-businesses, meaning those with fewer than 10 employees. However, these might be small but they are mighty, with 23,000 of them generating turnover in excess of £1m.

A new study has found that the UK is becoming a positive hotbed for this size of organisation, with around 2.17 micro-businesses active in the country in 2015, generating an average turnover of £287,000. The research went on to show that a staggering 89 per cent of businesses in the UK come under the micro-business category, meaning that one in 30 people is a business owner.

There were around 400,000 and 337,785 micro firms in London and the South East respectively, accounting for just over 18 per cent of the total, while Northern Ireland and the North East were found to have the smallest numbers, at 59,600 and 57,050 respectively.

As a spokesman for the study’s authors commented, the report highlights that the UK is a nation of entrepreneurs, all of whom make a huge contribution to the business economy. He added that it is unsurprising to see that London and the South East account for more than a third of the nation’s micro-businesses, as families in these areas are often seeking to gain extra sources of income by turning their hobbies into professions.

However, separate research has found that many of these business owners are unhappy with the current tax system, with two-thirds saying it is biased and unfair and does not treat businesses of all sizes equally.

The research found that these entrepreneurs feel ignored by mainstream political debate and believe themselves to be powerless to influence policy making, with a taxation and benefits system that is stacked against them.

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Glazers is a well-established and progressive firm of accountants based in North West London.

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