Are Small Or Large Businesses Taking The Lead In Your Industry?
Ever wondered who's out-trumping who when it comes to SME vs the big players in business?
Ever wondered who’s out-trumping who when it comes to SME vs the big players in business? Or more specifically, who’s out-trumping who within certain industries in certain regions?
When given the tool needed to compare and contrast turnovers based on sector and area of the country, some interesting – and perhaps unexpected – results can be revealed. This is particularly helpful if you’re currently thinking of starting up your own business, or are looking to grow your already established SME.
Getting a feel for the climate of your industry isn’t always as easy as it first seems, which is why – pulling data directly from gov.uk - Hiscox has created a useful interactive tool to help you do just that. The idea is that you can explore the different regions of England according to industry, tapping into the small vs big debate in business and gaining a real insight into who’s dominating what, and where.
What Kind Of Findings Can We Expect To Discover?
- SMEs that fall into the education sector in the North West of England are enjoying a turnover four times the size of their counterparts’ over in the North East, and double that of SMEs in the Midlands.
- SMEs are particularly thriving in the health and social work industry in the areas of London and Yorkshire, making up a huge 70% of the sector’s turnover in Yorkshire, and 61% in London.
- Turnover is shared evenly in the South East amongst small and large businesses that tap into admin services.
- Another 50-50 share of turnover takes place in London amongst small/large businesses that fall into the professional, scientific and technical categories. In fact, this is (almost) reflective of the whole of England, with small businesses only out-trumping large by 12%.
- Things aren’t so even in the information and communication industry in the North East where SMEs make up 100% of the turnover. This is also the case for Yorkshire, the Midlands and the South West, highlighting these areas as defined hubs for small businesses in this industry, with SMEs only making up 37% of the turnover nationwide.
Yorkshire is the hotspot for admin SMEs, making up 72% of turnover in the region’s admin sector, compared to the South East that makes up just half.
How To Use The Map
The interactive map is designed to help business-starters to visualise the potential advantages and disadvantages of starting their venture in relation to region. To use it, click on any one of the regions on the map, and select one of the industry sectors on the tabs at the top. SMEs’ turnover is shown in red, and larger business’ in grey.
Go ahead and explore the map for yourself, and discover whether it’s the underdog’s bark or the big dog’s bite you need to take heed of.
Read More On Digital Doughnut