Almost a quarter (24%) of small business owners had more employees working for them in 2015 than in 2014, according to a survey of 15,000 small and medium-sized firms by the Department for Business and the DCMS.
The Small Business Survey 2015 reveals that only one in 10 employers had reduced staff numbers in 2015. Furthermore, eight out of 10 small firms that had applied for finance received all or some of what they applied for.
However, 49% of respondents highlighted competition as the main obstacle to the success of their firm, while the same number believe red tape is holding back growth. Taxation and late payment were also flagged as issues affecting small business owners, identified by 43% and 33% of respondents respectively.