Business scene ‘thriving’ as company base grows

The number of businesses operating in Scotland has reached a record high.

Official statistics released by the Scottish Government show there were 365,600 private companies operating north of the border as of March.

The figure represents a 50% rise since 2000 and equates to more than two million jobs.

On an annual basis, the overall company figure had grown by 11,110, a 3.1% rise on 2016 and the highest number since records began being collated in 2000.

Of the established business base, the number of VAT/PAYE registered firms grew by 2,405 to 176,400, while the number of unregistered firms – those with annual revenues below £83,000 that do not have employees – also grew from 180,500 last year to 189,200 at the end of the financial year.

The figures show a year-on-year decline of 65 to 3,855 in the number of medium-sized companies operating in Scotland.

They are defined as businesses with an employee base of between 50 and 249 people.

The number of large businesses – which denotes companies with more than 250 staff – was static at 2,365.

The figure has only grown by 120 in the 17 years that records have been kept.

Scottish Government Minister for Business, Innovation and Energy Paul Wheelhouse said the figures showed Scotland’s business scene was “thriving”.

He said: “We’re committed to helping businesses to start up and grow, and our Small Business Bonus Scheme is benefiting the occupiers of more than 100,000 properties this year by either eliminating or substantially reducing their business rates bill.

The scheme has been significantly expanded this year, with half of all rateable properties across Scotland now paying no rates.

“Business Gateway supports new start-ups, as well as existing and growing businesses.

“It assists around 10,000 people to start their own business every year. Last year that was estimated to have created more than 11,000 jobs.”