Business Profile - November 2017

Published: March 2018

• Business Profile - November 2017
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In 2017 there were 24,360 businesses in Somerset. The County has more businesses per 1,000 persons, (46) than the UK (42) and LEP area (43). There was a small increase in the number of businesses in West Somerset between 2009 and 2016 (0.6%). Mendip had the largest increase of 9.8%

Businesses in Somerset (number) increased by 1.5% between 2016 and 2017. At the UK level, the number of businesses grew 4.5% between 2016 and 2017. Taunton Deane had the largest increase with 3%

Somerset has a higher proportion (20.3%) of businesses with a turnover of less than £50,000 than the UK (17.2%).

The largest proportion of Somerset businesses fall in the £100-249,000 turnover bracket, a similar pattern to UK and LEP areas.

Somerset’s largest sectors in terms of number of businesses are agriculture, forestry and fishing (14.0%), Professional, scientific and technical (12.3%) and construction (11.4%). The County’s industrial profile is broadly similar to that of the LEP area.

The UK as a whole has a lower concentration of agriculture, forestry and fishing businesses (4.9%) than Somerset and the Heart of the South West LEP, but a higher proportion of professional, scientific and technical (15.5%).

Somerset’s economy is mostly made up of small and medium-sized enterprises (SMEs). 77.8% of Somerset’s businesses employ fewer than 5 people, compared to 76.6% in the LEP area. In West Somerset, 91.5% of businesses employ fewer than 10 people. Taunton Deane has the largest concentration of medium and larger businesses in the County, with 11% employing more than 10 people.

Source for all data: UK Business Activity, Size and Location 2017, ONS