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Self-employed form significant part of Scottish enterprise boom

04 - 11 - 2013

Self-employed Scottish workers with micro-businesses accounted for a considerable rise in the number of enterprises being set up in Scotland.

Figures from the Business in Scotland 2013 survey revealed that 73 per cent of new businesses in the year running up to March 2013 were unregistered and are too small to be liable for VAT.

Unregistered businesses are defined by the survey as businesses without employees consisting of a sole proprietor/ partnership which are made up of owner-managers or one employee director.

That is to say that these micro-businesses are self-employed individuals who do not have additional employees and whose annual business turnover is below the VAT threshold of £77,000.

The number of unregistered enterprises jumped from 181,775 in 2012 to 183,055 in 2013.

According to the report, the number of micro-businesses rose by 1,280.

‘Responding positively’

Scotland finance minister John Swinney said that action being taken by the Scottish government to help small business was working.

‘Scotland's businesses are receiving a real benefit from the Small Business Bonus Scheme. Over 92,000 recipients will save an average of £1,668 this year as a result of our investment in supporting small business,’ he said.

‘In spite of the challenging economic climate Scotland's entrepreneurs and small business owners are responding positively, a sign that Scots are confident enough to go out and make the most of the opportunities available.

‘We therefore welcome this increase in new businesses. The rise has been driven by small business start-ups, with SMEs accounting for 99.3% of all private sector enterprises.’

 

 

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General                                                                                                                              

• The user is over 21 and subject to tax in the UK
• The user wishes to minimise their tax liability
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