Home > How Many New Businesses Fail in the Uk?

How Many New Businesses Fail in the Uk?

Report Highlights:

  • 20% of new businesses in the UK do not make it past the first year.
  • 60% of new businesses will fail within the first 3 years.
  • Only 33% of small businesses reach the 10-year mark.
  • In 2020, the business birth rate was 11.9% and the death rate 10.5%.

Failure Rate UK

More statistics: Number Of Businesses in the UK, UK Gambling Statistics, Employee Stress Statistics

UK Business Death Rate

  • In 2020, almost 11% of UK businesses (316,310) stopped trading.
  • 47% of SMEs reduced operations, while 31% temporarily closed down completely in 2020.
  • 20% of small businesses in the UK fail in their first year, and 60% fail within the first three years.
  • London had the highest business death rate in 2020 at 12.1%, followed by the West Midlands at 11.9% and the North West at 10.6%.
  • The transport and storage industry had the highest business death rate in 2020 at 14.7%, followed by business administration and support services at 14.1%, and the information and communication industry at 12.8%.
  • The top causes of start-up failures are running out of cash or failing to raise new capital (38%), lack of market need (35%), being outcompeted (20%), flawed business model (19%), regulatory or legal changes (18%), pricing or cost issues (15%), not having the right team (14%), mistiming the product (10%), poor product (8%), disharmony among team or investors (7%), failed pivot (6%), burning out or lack of passion (5%).

Failure Rate of Small Businesses

  • By the end of the second year, 30% of businesses will have failed.
  • During the 21/22 tax year, 810,316 new businesses were formed.
  • Approximately half of businesses fail in the first 5 years.
  • Only 30% of businesses remain after a decade, resulting in a 70% failure rate.
  • There are valid reasons for a business no longer existing, such as retirement.
  • The failure rate can vary between 15% and 25% in a single year.
  • Major events, like the Covid-19 pandemic, can significantly impact the failure rate.
  • Failure rates differ across industries, with healthcare businesses having a lower rate and warehousing and transportation businesses having a higher rate.
  • Some businesses may not be counted in the metrics due to reporting errors.
  • Businesses can continue to exist even when not performing optimally.
  • Only 1 of 5 of businesses fail within the first year, while 50% fail within the first five years.
  • Around 12.5% of businesses in the first year fail due to lack of preparation.
  • Overestimating the failure rate of small businesses is common.
  • About 50% of small businesses have a chance of surviving past year 5.

UK Small Business Trends

  • The number of small businesses in the UK has decreased by 6.6%, from 5.9 million to 5.5 million.
  • SMEs still make up 99.9% of the UK’s business population.
  • On average, 56% of SMEs have sought external finance.
  • Nearly all (91%) midsize company leaders are facing challenges due to inflation.
  • 45% of small business leaders consider inflation a top challenge for the year ahead, up from 20% last year.
  • Small business employment is at 12.9 million (48%) with a turnover of £1.6 trillion (36%).
  • 4.2 million small businesses have no employees, while 1.4 million have employees.
  • In the private sector, SMEs account for 61% of employment and over half of the turnover at £2.3 trillion (52%).
  • There was a 23% increase in the number of business failures compared to the previous year.
  • 46% of businesses in the UK are limited companies with one employee.
  • Companies and public corporations now represent 74.3% of total UK businesses.
  • 64% of UK SMEs believe that Brexit has negatively impacted the UK economy.
  • 51% of startup owners do not consider Brexit an obstacle.
  • In the US, there were 32.5 million small businesses in 2021, a growth of 9.8% over four years.

Reasons Why UK Startups Fail

  • 47% of startup failures in 2022 were due to a lack of financing, nearly twice as many compared to 2021.
  • 44% of failures happened because of running out of cash.
  • Investments in North American startups dropped by 63% in 2022 (reason: potential recession).
  • The Covid-19 pandemic caused 33% of startup failures in 2022, a decrease from 59% in the previous year.
  • 58% of founders wished they had conducted more market research before launching their businesses.
  • The same percentage of founders regretted not having a stronger business plan.
  • 79% of surveyed founders advised aspiring entrepreneurs to “learn from your mistakes”.
  • 40% of founders had pivoted their startups in some way to avoid failure, and 75% believed it contributed to their success.
  • Failure to pivot is a major reason why startups fail.
  • In 2021, there were 5.4 million new businesses started in the UK.
  • About half of all businesses fail within the first five years, and only 35% make it past 10 years.
  • Many businesses fail because owners lack knowledge in company management and don’t seek help from experienced individuals.
  • Failure to understand payroll, liability insurance, and proper employee payment can lead to legal and financial consequences for business owners.
  • Opening a business in a location where a previous business failed often results in repeated failures.
  • Businesses fail when owners don’t have a good understanding of cost structures and fail to keep track of their financial numbers.

UK SME Trends

  • 65% of failed SMEs blame cash flow problems for their failure.
  • 42% of startups fail because of a lack of market demand.
  • 39% of UK businesses struggle with scaling up.
  • 92% of consumers trust recommendations from individuals more than brands.
  • 89% of the UK population is active online.
  • Participating in local events and online forums can boost brand visibility.
  • Collaborating with other businesses can increase brand exposure.
  • Exceptional customer service helps differentiate SMEs and foster loyalty.

Conclusion

This report highlights the high failure rates of new businesses in the UK. 20% of new businesses do not make it past their first year, while 60% fail within the first three years. Additionally, only 33% of small businesses reach the 10-year mark.

We’ve also highlighted the factors contributing to business failures, such as running out of cash, lack of market need, and being outcompeted.

The report sheds light on the impact of major events like the Covid-19 pandemic on the failure rate. It is evident that failure rates vary across industries, with healthcare businesses having a lower rate and warehousing and transportation businesses having a higher rate.

Despite these challenges, SMEs still make up a significant portion of the UK’s business population, and there are opportunities for success through strategies such as seeking external finance, conducting market research, and pivoting when necessary.

SOURCES:

107+ UK Gambling Statistics

Report Highlight:

  • 43% of individuals in the UK, equivalent to around £29 million people, engage in gambling on a monthly basis.
  • An estimated 300,000 individuals in the UK are considered problem gamblers.
  • In 2022, the gross gambling yield (GGY) for online gaming in the UK reached £6.4 billion.
  • The GGY for land-based gambling in the UK amounted to £3.5 billion in 2022.
  • Gaming machines in the UK generated a GGY of £1.8 billion in 2022.
  • In the online gaming sector in the UK, the GGY for casino games reached £3.9 billion in 2022.
  • Remote sportsbooks in the UK generated a GGY of £2.4 billion in 2022.
  • New account registrations for online gambling in the UK have experienced a 9.1% increase compared to pre-pandemic levels.
  • By the end of 2022, there were 2,419 licensed operators in the UK, a decrease from 2,819 in 2018.

Gambling Statistics

More statistics: Debt Statistics – Fraud Statistics – Employee Stress And Burnout Statistics

UK Online Gambling Trends

  • Approximately 43% of individuals in the UK, equivalent to around £29 million people, engage in gambling on a monthly basis.
  • An estimated 300,000 individuals in the UK are considered problem gamblers.
  • In 2022, the gross gambling yield (GGY) for online gaming in the UK reached £6.4 billion.
  • In 2021, the GGY for online gaming in the UK was £6.9 billion.
  • The GGY for land-based gambling in the UK amounted to £3.5 billion in 2022.
  • Gaming machines in the UK generated a GGY of £1.8 billion in 2022.
  • In the online gaming sector in the UK, the GGY for casino games reached £3.9 billion in 2022.
  • Slot games accounted for £3 billion of the GGY for casino games in the UK in 2022.
  • Remote sportsbooks in the UK generated a GGY of £2.4 billion in 2022.
  • New account registrations for online gambling in the UK have experienced a 9.1% increase compared to pre-pandemic levels.
  • By the end of 2022, there were 2,419 licensed operators in the UK, a decrease from 2,819 in 2018.
  • In 2021, there was a 22.5% increase in online casino participation.
  • In 2021, remote betting saw a 13.5% increase.
  • Pre-pandemic, in-person casino GGY was £1.018 billion, during the pandemic it was £0.117 billion, and post-pandemic it amounted to £0.692 billion.
  • Pre-pandemic, the GGY for remote casinos was £3.23 billion, during the pandemic it rose to £4.04 billion, and post-pandemic it remained at £3.9 billion.
  • Projections indicate that the online gambling industry in the UK will employ 120,000 individuals in 2023, marking an 8% increase from 2022.
  • The average salary in the UK’s online gaming industry in 2023 is £57,500.
  • Gambling activities are participated in monthly by 43% of the UK population.
  • 26% of the UK population engages in online gambling.
  • In 2018, online gambling participation stood at 19%.
  • The number of online gaming accounts in the UK is currently 32 million.
  • The most popular forms of online gaming in the UK are the National Lottery, sports betting, horse races, football pools, bingo, and casino games.
  • The average UK online gambler spends £2.60 per week or £135.20 annually.
  • The primary reasons why young people gamble are for enjoyment, the perceived likelihood of winning, having an activity to engage in, the simplicity of the games, and the desire to win money.
  • Debit cards or eWallets are used by 66% of individuals in the UK for gambling.

Gambling Industry Statistics 2024

  • The UK gambling market is estimated to be worth more than £14.3 billion in 2023.
  • Online gambling makes up over 38.2% of the total market, with revenues of £5.4 billion in 2023.
  • Online casinos generated £3.2 billion in revenue, with slots being the most popular game.
  • Sports betting accounted for £1.9 billion of online gambling revenue in 2023.
  • The number of active online gamblers in the UK reached 24.7 million in 2023, a 6.2% increase from 2022.
  • The number of self-excluded gamblers increased by 15% in 2023.
  • Penalties issued for non-compliance increased by 20% in 2023.
  • Approximately 0.7% of the adult population in the UK were identified as problem gamblers in 2023.
  • The number of self-exclusions increased by 25% in 2023.
  • Over £10 million was donated by the industry to problem gambling charities in 2023, a 20% increase from 2022.
  • The number of individuals seeking help for problem gambling increased by 30% in 2023.
  • The UK gambling industry is expected to grow at a CAGR of 6.7% through 2027.
  • The online sector is projected to have a market size of over £6 billion by 2024.
  • The UK government plans to implement new regulatory changes, including stake limits, affordability checks, and a levy on betting firms, to address problem gambling.

UK Gambler Statistics

  • The revenue generated by the UK National Lottery in the decade ending in April 2022 exceeds £74 billion.
  • More than a quarter of UK adults played the lottery in the first quarter of 2023.
  • 44% of people aged 16 and above in the UK took part in gambling during that time.
  • In March 2023 alone, nearly 14 million Brits engaged in some form of online gambling.
  • 26% of UK adults occasionally gamble online.
  • 35% of 45-54 year-olds in the UK actively gamble online in 2023.
  • 31% of 35-44 year-olds in the UK frequently gamble.
  • During March 2023, 42% of UK adult women and 45% of UK men gambled.
  • UK accounts for 23% of Europe’s total sports betting market.
  • Betting on real events like sports is 35% more popular in the UK than playing online slots.
  • Gross gambling yield for real event and slots betting exceeds £200 million in the year ending March 2023.
  • Largest online gambling operators reported a total gross gambling yield of £4.9 billion during the same period.
  • On average, people in the UK spend £70 per person per week on gambling.
  • 54% of survey participants gamble every week, while 21% gamble once a fortnight.
  • 85% of surveyed gamblers have gambling apps installed on their mobile devices.
  • 78% of female gamblers and 61% of male gamblers believe that UK gambling regulations should be stricter.

Gambling Addiction Statistics

  • The rate of problem gambling in the UK fell to 0.2% in the year to March 2022.
  • Problem gambling rates among women remained at 0.1%.
  • The number of problem gamblers decreased from 225,000 to 113,000.
  • The use of black market gambling sites in the UK has more than doubled in two years.
  • The black market in Norway accounts for over 66% of all money staked, with a problem gambling rate of 1.4%.
  • In France, 57% of money staked goes to black market operators, with a problem gambling rate of 1.6%.
  • Most problem gamblers are not addicted and require a clinical assessment for gambling addiction.
  • The UK’s betting and gaming industry has funded research, education, and treatment for problem gamblers.
  • Problem gambling figures should be a warning to ensure future changes are balanced, proportionate, and targeted.
  • The regulated industry promotes safer gambling unlike the unsafe online black market.

Key Takeaways

The UK’s gambling industry continues to show significant growth, with an estimated market value of over £14.3 billion in 2023.

The online sector remains a substantial contributor, accounting for over 38.2% of the total market. Notably, the transition to online platforms, bolstered by the pandemic, has witnessed an increase in online gambler participation, from 19% in 2018 to 26% in 2023.

Alongside the growth, the industry faces challenges related to problem gambling, evidenced by the rise in self-exclusions and individuals seeking help.

The proposed regulatory changes by the UK government, including stake limits and affordability checks, aim to address these issues, ensuring a safer gambling environment.

SOURCES:

101+ Employee Stress And Burnout Statistics UK

Report Highlights:

  • 79% of British adults get stressed every month.
  • 90% of young adults in the UK experience monthly stress.
  • 50% of UK workers are on the brink of burnout.
  • Over 13.7 million workdays are lost annually in the UK due to stress, anxiety, and depression.
  • Stress, burnout, and mental health issues cost the UK economy a whopping £28bn each year.

Stress And Burnout Statistics
More Statistics: Average Employee Turnover Rate, Number Of Businesses, Food Delivery Market Size

Stress And Burnout Statistics

  • In the UK, 79% of adults experience stress at least once every month.
  • For those aged 18-24 in Britain, 90% report monthly stress.
  • 20% of people living in the UK are stressed on more days than they are relaxed each month.
  • An 18-24-year-old in the UK typically faces stress for about 9.82 days each month.
  • 56% of the working population believe that a moderate level of stress boosts their performance.
  • Close to burnout are 46% of professionals in the UK.
  • Half of the UK employees working remotely feel they might experience burnout.
  • Of those who work in physical office spaces, 41% believe they’re on the brink of burnout.
  • When it comes to online searches about burnout, Cambridge leads the way in the UK.
  • In 2023, 42% of individuals say they feel more drained than at any previous time.
  • In the last year, 60% of professionals took advantage of their full holiday allowance.
  • There was a 48% rise in burnout reports among the British workforce over the last year.
  • The primary trigger for burnout? 78% cite their workload.
  • Each year, 13.7 million working days go unused in Britain due to ailments like stress, anxiety, and depression related to work.
  • Stress seems to most prominently affect those between the ages of 18 and 34.
  • Among all UK cities, 70% of London’s residents are the most prone to stress.
  • For 39% of UK adults, their profession is the most significant stress inducer.
  • A quarter of the UK’s working community has taken a stress-induced leave at some point.

Amount of People out of Work

  • The number of people not working in the UK due to illness has reached a record high. (438,000 more people were not looking for work in the first 3 months this year)
  • In total, 2.5 million people are currently not working due to health problems.
  • Rise in illness-related unemployment can be attributed to an increase in mental health issues, particularly in young people.
  • Four in five workers say workplace burnout has affected their health and wellbeing.
  • Almost half of employees frequently feel overwhelmed due to increasing inflationary pressures.
  • Gen Z employees experience burnout at the highest rate.
  • Nearly 50% of 18-24 year olds entering the workforce experience higher stress levels compared to older colleagues.
  • Low employee engagement may contribute to stress in young workers, as they often struggle to connect with coworkers, managers, or employers.
  • 61% of young people working from home go for hours without talking to anyone, negatively impacting their mental health.
  • 54% of Gen Z workers feel lonely and isolated at home, compared to 38% of older colleagues.
  • Financial pressures continue to cause stress for employees, leading to “quiet quitting” or disengagement from their job.
  • 24% of UK employees admit to no longer going above and beyond at work.
  • Quiet quitting affects organizational culture and can lead to increased operational costs and decreased productivity.
  • Disengaged employees cost their company the equivalent of 18% of their annual salary.
  • A minority of employees rate the physical (32%), mental (39%), and financial (28%) wellbeing support from their employers as good or excellent.
  • 72% of UK staff believe their workplace wellbeing would improve if they were simply thanked for their hard work.
  • Transactional leadership, which rewards high-achievers with benefits and perks, can motivate employees and improve their wellbeing.
  • Employees need to feel recognized and valued in the workplace for their financial and career wellbeing.

Burnout and Work-Related Stress Cost and Percentages

  • Work-induced stress, burnout, and mental challenges drain £28bn from the UK’s economy annually.
  • Annually, 23.3 million working days are missed in the UK due to issues like stress, burnout, and deteriorating mental health.
  • One in five UK adults experience emotional turmoil.
  • Over a quarter of UK adults lack a sense of positive mental well-being.
  • Nearly half of the individuals in the UK face the possibility of burnout.
  • Year on year, there’s a positive shift in the UK’s overall mental well-being.
  • Over half of the UK workforce believes their employer offers commendable support for mental health.
  • Employees with adequate support tend to be twice as content and 3.5 times more likely to thrive.
  • Monetary worries lead to a £6.2bn loss for UK enterprises due to sick days and reduced efficiency.
  • Almost 30% of individuals find it challenging to balance professional and personal lives, impacting their mental state.
  • While managers tend to experience higher stress levels, they also exhibit more confidence and ease.
  • Female workers in the UK exhibit lesser mental well-being compared to their male counterparts.
  • Close to half of the individuals between 18-24 years grapple with a mental health issue, while only 22% of those above 55 do.
  • While the negative perception surrounding mental health issues is fading, there remains a substantial need for support.
  • More than half the populace acknowledges the reducing stigma linked to mental health challenges.

How Employers Can Help

  • 85% of business owners document health-related absences among their workforce
  • 63% assess how absenteeism affects their company’s operations
  • In the 2021/22 period, 17 million workdays were forfeited due to stress, depression, or anxiety linked to the workplace
  • Early identification and support for team members facing mental health challenges are crucial to avoid exacerbating the situation
  • Promoting regular time off and consistent breaks for workers can bolster their mental wellbeing and deter potential drops in performance
  • High absentee rates adversely influence both output and revenue
  • Evaluating the results and effectiveness of a mental health initiative is vital for gauging its influence on performance
  • A company culture that values mental health from the leadership down is indispensable
  • It’s essential for supervisors to prioritize staff welfare and to be adept at addressing mental health topics
  • 97% of those aged 18 to 34 have felt the effects of burnout
  • One in four individuals between 18 to 34 finds it challenging to manage stress
  • It’s vital for companies to foster an atmosphere where discussing mental health is welcomed, without any repercussions.

Employee Burnout Statistics

  • Mental health has affected the career trajectories of 75% of employees.
  • Companies need to focus on employee well-being to mitigate burnout.
  • For 72% of full-time professionals, taking annual breaks is seen as a way to combat burnout.
  • In the last year, just 60% of employees utilized all their holiday benefits.
  • Nearly 18% of individuals under 25 didn’t take any holidays in the previous year.
  • Merely 34% of staff felt their companies actively encouraged them to use up all their vacation days.
  • Of the workforce, 13% couldn’t get a break due to intense work commitments, 9% experienced employer-driven pressure, and 8% faced financial constraints that prevented holidays.
  • Half the employees admit that remote work makes it more likely for them to overlook their annual leave.
  • 47% of the workforce feels they can’t completely unplug from their job while on vacation.
  • 21% think it’s essential to stay updated with work dynamics, while 20% are concerned about tasks they’d leave pending.
  • Knowing they are reachable by their office, 18% struggle to detach, and 16% face blurred boundaries between their personal and professional lives.
  • Employees should strategize to handle colleagues’ duties during their absence.
  • Appointing a reliable point of contact for emergencies can be helpful.
  • Employees must understand that prolonged exhaustion can have severe implications.
  • The topic of unlimited paid leaves has seen a 48% surge in staff discussions.
  • 64% of the workforce feels more vacation days should be provided by companies.
  • 55% think that limitless holiday time can have a beneficial effect on mental well-being.

Report Conclusion

The statistics presented highlight the widespread impact of stress and burnout in the UK.

With a significant percentage of adults experiencing stress on a monthly basis and a growing number of workers on the brink of burnout, it is clear that action needs to be taken to address this issue.

The economic costs, both in terms of lost workdays and financial expenditures, further emphasize the urgency of implementing effective strategies to support mental health and well-being in the workplace.

Through proactive measures and creating a supportive environment, employers can play a crucial role in alleviating stress and burnout among their employees, ultimately leading to improved productivity and overall well-being.

 

Sources:

  1. https://www.neuroworx.io/magazine/uk-employee-stress-and-burnout-statistics/
  2. https://startups.co.uk/news/staff-burnout-raises-uk-unemployment-rate/
  3. https://www.personneltoday.com/hr/burnout-stress-and-mental-ill-health-running-rampant-in-uk/
  4. https://employeebenefits.co.uk/employers-help-staff-avoid-burnout-while-managing-productivity/
  5. https://www.peoplemanagement.co.uk/article/1792272/employee-burnout-record-levels-research-suggests

Tesla’s Market Share in the UK

REPORT HIGHLIGHTS:

  • In February 2023, plugin electric vehicles had a 22.9% share in the UK auto market, down from 25.6% in February 2022.
  • The UK’s overall auto volume in February 2023 was 74,441 units, marking a 26% year-over-year growth.
  • Chinese manufacturers have captured 8.2% of the European electric car market in 2023, selling 86,000 BEVs.
  • Tesla Model Y was the best-selling vehicle overall in the UK in March 2023, with 8,123 units sold.
  • More than 215,000 new plug-in cars were registered in the UK so far in 2023, representing over one-fifth of the market.
  • Battery Electric Vehicles (BEVs) gained about 20% year-over-year, with 12,310 BEV units sold in February 2023.
  • Inflation rates in the UK have surged to above 10%.

Tesla’s Market Share

More statistics: UK Debt Statistics, UK Food Delivery Market Size, Food Box Market Size UK

UK Auto Market Evolution

  • In February 2023, the market share of plugin electric vehicles in the UK stood at 22.9%.
  • This marks a decrease from February 2022, when plugin electric vehicles had a 25.6% share of the auto market.
  • The overall auto volume in February 2023 was 74,441 units.
  • Year-over-year, this represents a growth of 26% in overall auto volume.
  • However, this is still below the seasonal norm of approximately 81,000 units, which was typical before the year 2020.

Chinese Electric Cars in the UK and European Market

  • China’s influence in the European electric car market has significantly increased, with its market share more than doubling in less than two years.
  • The UK stands as the premier market for Chinese electric car brands in Europe, contributing to nearly one-third of their total European sales in 2023.
  • Approximately 5% of all new cars sold in the UK from January to July 2023 were manufactured by Chinese brands.
  • Chinese automakers nearly matched their entire 2022 electric car sales in Europe within the first seven months of 2023.
  • Chinese cars have expanded their footprint in the overall European auto market, growing from a 0.1% share in 2019 to 2.8% in the first seven months of 2023.
  • In terms of battery-electric vehicles (BEVs), the market share escalated from 0.5% in 2019 to 3.9% in 2021.
  • So far in 2023, Chinese manufacturers have captured 8.2% of the European electric car market, selling 86,000 BEVs.
  • The MG4 EV ranks as the second most popular electric car in the UK for the period covering January to July 2023, trailing only behind Tesla’s Model Y SUV.

EV Adoption Trends in the UK

  • Tesla set a new record for Model Y deliveries in the UK last month, contributing to an all-time high in the country’s electric vehicle market share.
  • Orders for the Tesla Model Y opened late in 2021 in the UK, and deliveries started in February 2022.
  • By March, the Tesla Model Y had already claimed the title of the best-selling electric vehicle in the UK.
  • Leading the surge in electric vehicle sales, the Model Y has been a key driver in the 18% year-over-year increase in battery-electric vehicle sales.
  • In March, the Tesla Model Y was not just the best-selling electric vehicle but also the best-selling vehicle overall in the UK, with 8,123 units sold.
  • When it comes to the best-selling vehicles in the UK for the year 2023 so far, the Tesla Model Y ranks fourth with 5,888 units sold.
  • The top ten list of best-selling vehicles in the UK in March also includes popular models like the Nissan Juke, Nissan Qashqai, and Kia Sportage, among others.
  • For the year 2023 to date, other leading vehicles include the Nissan Qashqai, Nissan Juke, and Vauxhall Corsa.
  • As of the latest data, battery-electric vehicles now make up an 18% share of the overall auto market in the UK.

UK’s Electric Vehicle Market

  • UK car registrations rose by nearly 26% in June 2023, totaling 177,266.
  • Total new registrations reached 949,720 in the first half of 2023.
  • This marks an 18% increase year-over-year.
  • The plug-in segment had its best June ever.
  • SMMT reported 44,470 new plug-in cars were registered last month.
  • This is a 46% increase from the previous year.
  • Plug-ins made up 25.1% of total car sales.
  • Last year, this share was 21.6%.
  • All-electric and plug-in hybrid sales both saw significant growth compared to 2022.
  • More than 215,000 new plug-in cars were registered so far this year.
  • This is a 29% increase from last year.
  • Plug-ins now account for over one-fifth of the market.
  • Tesla Model Y was the best-selling model in June 2023 with over 5,500 units sold.

Plugin Vehicle Types Statistics

  • In February 2023, full battery electric vehicles (BEVs) accounted for 16.5% of the UK’s auto market.
  • Plugin hybrids (PHEVs) made up a smaller share, coming in at 6.3% in the same month.
  • Comparatively, in February 2022, BEVs had a larger share at 17.7%.
  • PHEVs also had a higher market share a year ago, standing at 7.9% in February 2022.

Petrol-Powertrain Volumes Trends

  • Year-over-year, petrol-powertrain volumes increased from 23,952 units to 32,331 units.

Battery Electric Vehicles Trends

  • The volume of Battery Electric Vehicles (BEVs) gained roughly 20% year-over-year.
  • In February 2023, a total of 12,310 BEV units were sold.
  • Tesla Model Y was the best selling full electric vehicle for the month, with 1,482 units sold.
  • The Tesla Model Y alone accounted for 12% of the BEV market in February 2023.
  • Two-thirds of Tesla’s total BEV market share came from Tesla Model Y sales.

Brand Rankings in the Electric Vehicle Market

  • Volkswagen climbed in brand rankings, moving from 4th place to 2nd.
  • Audi also saw a rise, ascending from 7th to 4th position.
  • Polestar made significant strides, jumping from 9th to 6th place.
  • Renault made an impressive leap from 17th to 7th in the rankings.
  • Conversely, MG fell from 3rd to 5th place.
  • Mercedes also saw a decline, dropping from 5th to 10th.
  • Hyundai experienced a slide as well, falling from 8th to 11th place.
  • Since the summer of 2022, Polestar has steadily climbed in the rankings.
  • Renault Nissan made a significant leap, climbing from 8th to 4th place in the manufacturing group rankings over the three months leading up to November.
  • Stellantis, on the other hand, experienced a decline, falling from 5th to 8th place in the same period.

Market Movements and Trends

  • The UK economy has been hovering around 0% growth over the past two quarters.
  • Inflation rates in the UK have surged to above 10%.

Influences and Impacts

  • The overall auto market experienced a year-over-year growth of 26%, primarily attributed to easing supply chain shortages.

UK Debt Statistics

UK Debt Statistics Report:

  • Outstanding mortgage lending stood at £1,584.8 billion at the end of April 2022, an increase of £62.3 billion from a year earlier.
  • The average UK house price in May 2022 was £289,099, rising by 3.2% in the three months to May 2022 and by 10.5% in the year to May 2022.
  • The average house price for first-time buyers in Great Britain was £234,468 in April 2022, an annual increase of 11.8% and a monthly change of 1.1%.
  • Private rental prices in the UK rose by 2.8% in the 12 months to May 2022, with the median rent in England being £795 and £1,450 in London.
  • In 2020-2021, 34.7% of households owned their home outright, 30.1% had a mortgage, 18.5% rented privately, and 16.6% paid a social rent.
  • At the end of Q1 2022, there were 152,929 mortgage loan accounts with arrears of more than 1.5% of the current loan balance, a 10.4% decrease from Q1 2021.
  • UK Finance estimated that 580 homeowner properties were taken into possession in the UK in Q1 2022, up from 200 in Q1 2021, approaching pre-pandemic levels.

uk debt statistics

Daily Debt Statistics

  • The UK population increased by approximately 777 individuals daily from 2019 to 2020.
  • Average daily household expenditure on utilities (water, electricity, and gas) in the UK amounts to £4.15.
  • From March to May 2022, 342 people were declared insolvent or bankrupt daily in England and Wales, equating to one person every 4 minutes and 13 seconds.
  • In April 2022, Northern Ireland experienced 4.6 insolvencies daily, while Scotland saw 21.0 insolvencies daily in the three months leading up to March 2022.
  • England and Wales’ Citizens Advice Bureaux handled 2,030 debt-related issues daily in the year ending May 2022.
  • Between January and March 2022, 6.4 UK properties were repossessed daily, or one every 3 hours and 43 minutes.
  • Daily decrease of UK mortgages with over 2.5% arrears in the remaining balance was 22.8 in the year ending March 2022.
  • The number of unemployed individuals in the UK decreased by 973 daily in the twelve months leading up to April 2022.
  • 629 people reported redundancy daily from February to April 2022.
  • Net lending to UK individuals and housing associations increased by £190.3 million daily in April 2022.
  • UK government debt rose by £554 million daily in the three months up to May 2022.
  • Borrowers paid £126 million in interest daily in April 2022.
  • The average daily cost of raising a child for a couple in the UK is £24.44, from birth until 18 years of age.
  • Lone parents in the UK spend an average of £29.50 per day on raising a child.
  • Daily mortgage possession claims and orders in England and Wales from January to March 2022 were 32.1 and 25.5, respectively.
  • During the same period, 211 landlord possession claims and 144.2 landlord possession orders were made daily.

Current Cost of Living Crisis in the UK

  • 8 out of 10 workers who worked from home during the pandemic plan to continue hybrid working after restrictions lifted, with the proportion of hybrid workers increasing from 13% in February 2022 to 24% in May 2022, while exclusive remote workers decreased from 22% to 14% (ONS).
  • Families with two children face an estimated 13% annual increase in costs, outpacing the official inflation rate of 9.1%, leading to approximately £400 more in monthly expenses for essentials like food, rent, and heating (Joseph Rowntree Foundation, Loughborough University).
  • 63% of ethnic minority individuals experienced a negative impact on their cost of living due to the pandemic, compared to 59% of all UK adults (LifeSearch Health, Wealth and Happiness Index).
  • 46% of people receiving assistance from Citizen’s Advice have a negative budget, meaning their essential spending surpasses their income (Citizen’s Advice).
  • 74% of adults reported their mental health being negatively affected in the past two years, with 28% attributing it to the rising cost of living, followed by 27% citing Covid restrictions (LifeSearch Health, Wealth and Happiness Index).

Personal Debt in the UK

  • As of April 2022, total personal debt in the UK reached £1,786.6 billion, with £1,584.8 billion in secured mortgage debt and £201.9 billion in unsecured consumer debt, including £60.9 billion in credit card debt.
  • UK personal debt increased by £67.1 billion from April 2021 to April 2022, resulting in an additional £1,269.14 per adult.
  • Average total debt per household (including mortgages) stood at £64,286, and per adult at £33,780, or 105.3% of average earnings, as of April 2022.
  • Over a 12-month period, the UK’s total interest payments on personal debt amounted to £46,133 million, averaging £126 million per day.
  • Office for Budget Responsibility’s March 2022 forecast predicts household debt to rise from £2,019 billion in 2020 to £2,447 billion in 2025, making the average total household debt £85,906.
  • Consumer credit debt reached £201.9 billion by April 2022, with outstanding credit card debt at £60.9 billion.
  • Total net lending to individuals and housing associations increased by £5.7 billion in April 2022, with net mortgage lending rising by £4.6 billion and net consumer credit lending increasing by £593 million.
  • In Q1 2022, lenders wrote off £773 million, including £270 million in credit card debt.
  • Citizens Advice Bureaux in England and Wales dealt with 2,030 debt issues daily in the year to May 2022.
  • In Scotland, Citizens Advice Scotland gave 79,122 pieces of advice in April 2022, with debt advice comprising 10% of the total.
  • In Northern Ireland, Advice NI’s Debt Action service handled 357 cases involving debt issues in May 2022, covering £1.6 million of debt.
  • StepChange Debt Charity assisted 12,500 new clients in April 2022, with 64% having credit card debt, 46% with personal loan debt, 33% with overdrafts, and 35% with catalogue debt.
  • 31,435 individual insolvencies occurred in England and Wales from March to May 2022, equivalent to 342 people per day or one person every 4 minutes and 13 seconds.
  • In Northern Ireland, there were 144 individual insolvencies in May 2022, or 4.6 per day.
  • In Scotland, there were 1,894 personal insolvencies from January to March 2022, or 21.0 per day.
  • 2,494 Consumer County Court Judgements (CCJs) were issued daily in England and Wales from January to March 2022, while in Northern Ireland, there were 10 consumer debt judgements per day, and in Scotland, 43 consumer debt decrees were registered daily.

Mortgages, Rent, and Housing

  • Mortgage debt in the UK increased to £1,584.8 billion at the end of April 2022, up £62.3 billion from a year earlier.
  • The average outstanding mortgage for households with mortgage debt was £144,332 in April 2022.
  • Average mortgage interest rates were 2.05% at the end of April 2022, with new loans having an average interest rate of 1.83%.
  • Gross mortgage lending in Q1 2022 was £76.9 billion, 7.5% lower than the same quarter in the previous year.
  • House prices in the UK increased by 11.2% in May 2022, with the average price reaching £289,099.
  • First-time buyer average house price was £234,468 in April 2022, with a typical deposit of 23% of the purchase cost or £53,928.
  • Private rental prices in the UK increased by 2.8% in the 12 months to May 2022, with the median rent in England at £795.
  • The percentage of outright homeowners was 34.7%, while 30.1% were mortgagors, 18.5% rented privately, and 16.6% paid social rent.
  • Mortgage loan accounts with arrears of more than 1.5% of the current loan balance were 152,929 at the end of Q1 2022, down 10.4% from Q1 2021.
  • There were 580 homeowner property possessions in Q1 2022, up from 200 in Q1 2021, approaching pre-pandemic levels.

Arrears and Repossessions in the UK

  • At the end of Q1 2022, there were 152,929 mortgage loan accounts with arrears of more than 1.5% of the current loan balance, representing a 1.1% decrease from the previous quarter and a 10.4% decrease from Q1 2021.
  • In Q1 2022, 49.3% of payments due for loans in arrears were received.
  • UK Finance reported that 75,670 (0.85%) of homeowner mortgages had arrears equivalent to at least 2.5% of the outstanding mortgage balance in Q1 2022, marking a 5.0% decrease from the previous quarter.
  • Over the last year, mortgages in arrears have decreased by an average of 22.8 per day.
  • UK Finance estimated that 580 homeowner properties were taken into possession in Q1 2022, up from 200 in Q1 2021, which equates to 6.4 properties per day or one property every three hours and forty-three minutes.
  • In England and Wales, between January and March 2022, an average of 32.1 mortgage possession claims were issued, and 25.5 mortgage possession orders were made daily.
  • During the same period, 211 landlord possession claims were issued, and 144.2 landlord possession orders were made daily.
  • Compared to Q4 2019, mortgage possession claims fell by 54%, orders by 48%, landlord possession claims by 25%, and landlord possession orders by 37%. This decrease was due to the forbearance action by the Government and the FCA in response to the Covid-19 pandemic.
  • Possession claims and orders increased in Q2 and Q3 2021 from the low levels observed in mid-2020.

Sources:

UK Food Delivery Market Size

The food delivery market has experienced significant growth in recent years, driven by advancements in technology and evolving consumer preferences for convenience and variety.

In the United Kingdom, this industry reached an estimated £10 billion in 2022, accounting for 4.65% of the global food delivery market.

uk food delivery market

UK vs Global vs Us Food Delivery Market Size

  • In 2022, the UK food delivery market was valued at £10 billion.
  • Comparatively, the global food delivery market size reached £215 billion the same year.
  • The US market alone accounted for £50 billion in 2022.
  • The UK held a 4.65% share of the global food delivery market in 2022.
  • Meanwhile, the US commanded a 23.26% share.
  • The UK food delivery market experienced a 7% annual growth rate in 2022.
  • Globally, the market grew by 9% during the same period.
  • The US market saw an 8% annual growth rate in 2022.

UK Foodservice Market by Type of Restaurant

  • 28% quick service restaurants, 38% full-service restaurants, 31% cafes and bars, 2% street food

Here is how to global chart looks like:

food service market type
Chart by deloitte.com

More Statistics: Employee Stress Statistics , UK Gambling Statistics, Number Of Businesses in the UK

Global Food Delivery Trends

  • In 2019, the global worth of Italian cuisine reached €236 billion, reflecting a growth of over 6% from €209 billion in 2017.
  • Italian cuisine accounts for 18% of the worldwide full-service restaurant market.
  • Italian cuisine’s value is greater in China (29%) and the US (24%) than in Italy (16%) itself.
  • US and Brazil are the top countries in terms of Italian cuisine penetration overseas, both at 28%.
  • In the leading 5 European nations (including the UK), European cuisines make up 44% of the foodservice market.
  • With a market share of over 30% Italian cuisine dominates the European cuisines landscape and is projected to grow further.
  • Authentic Italian products hold enormous potential.
  • The value of such products is nearly triple that of Italian food exports.

Food Delivery Trends in the UK

  • A 27% increase has been observed in food service delivery users ordering lunch to spend time with their partners.

This trend presents an opportunity to target couples working from home by offering lunchtime deals for two.

What The Big Brands Are Doing

  • Pub and bar delivery availability experienced a 25% increase YoY, with nearly half of brands now offering this service.
  • Contemporary fast food brands, like Five Guys and Tortilla, have joined forces with Deliveroo Editions.
  • Other examples include Vintage Inns, Ember Inns, O’Neill’s, Chef & Brewer, and Farmhouse Inns, which all saw a 25% increase in delivery availability.
  • McDonald’s has experimented with a new concept to accommodate increased delivery volumes without affecting the dine-in experience.
  • In November 2021, McDonald’s piloted the “Convenience of the Future” model, which: Provides a separate entrance and waiting area for delivery drivers. Reduces disruptions to customers by keeping couriers away from dining areas.
  • Wagamama introduced BOX, a lunchtime delivery concept designed for remote and office workers in 2 cities: London and Leeds.
  • On-demand groceries contributed to around 11% of Deliveroo’s revenue in the first half of its financial year, up from 9% the previous year.
  • Deliveroo reported full-year revenues of nearly £2 billion for the year ending December 31, 2022, marking a 13.8% increase from the previous year.
  • The company’s pre-loss stood at £230.6 million, which is an improvement from the £281.8 million loss reported a year earlier.

What UK Customers Want

  • 53% of respondents try to buy healthier snack items, such as reduced sugar or lower-calorie options.
  • 50% find calorie information on menus useful.
  • 48% are attempting to reduce their meat consumption.
  • 46% appreciate menus offering lower-calorie versions of signature dishes.
  • 44% are trying to cut down on their alcohol consumption.
  • 39% feel motivated to exercise and maintain a balanced diet

Latest Statistics (Updated in January 2024)

  • UK rapid delivery companies are experiencing a reduction in riders and warehouse closures.
  • Major player Gorillas has retreated from five UK towns and cities, leading to a downsized workforce.
  • Getir, an on-demand grocer, has placed some UK stores in “hibernation” and trimmed its employee count.
  • Zapp, a London-based competitor, has slashed its workforce by 10% and exited Bristol, Cambridge, and Manchester.
  • As delivery discounts wane, on-demand grocery app downloads and usage have declined.
  • Low profit margins on food items, typically ranging from 1-5%, make it difficult for firms to become profitable.
  • To reduce expenses and showcase a route to profitability, some rapid delivery firms are resorting to gig economy riders.

UK Food Delivery Market

Tthe food delivery market has experienced significant growth in recent years, with the UK market demonstrating remarkable progress.

This report highlighted key trends, including the rise of delivery services for pubs and bars, innovative delivery concepts, and an increased focus on health-conscious options.

Additionally, it emphasized the continued popularity of Italian cuisine worldwide and the growing presence of on-demand grocery services within the food delivery sector.

Businesses within the food delivery market need to stay updated on these trends and adapt accordingly to capitalize on the opportunities they present.

By catering to the evolving preferences and needs of consumers, companies can successfully navigate the competitive landscape and ensure a sustainable future in the thriving food delivery market.

Sources:

Food Box Market Size UK

Welcome to our comprehensive analysis of the thriving UK food box market!

food box

As an essential sector in the food industry, meal kit deliveries have transformed the way we approach cooking and meal planning.

In this report, we’ll explore the UK food box market landscape, shedding light on the factors contributing to its impressive growth and the opportunities it presents.

Introduction to the UK Food Box Market

Get ready to embark on a journey through the ins and outs of this ever-evolving market, as we uncover the key players, trends, and innovations that have shaped it.

By the end of this report, you’ll have a solid understanding of the market dynamics and the factors driving its success, equipping you with the knowledge needed to make informed decisions and strategies in this competitive space.

Stay with us as we dive into the world of food boxes and discover what makes them so appealing to the UK consumer.

Growth Trends in the Food Box Market

As we delve into the booming UK food box market, it’s essential to understand the remarkable growth trends that have propelled it to new heights. In just a year, the revenue from meal kits in the UK skyrocketed from 1.25 million USD in 2021 to an astonishing 1.5 billion USD in 2022. This meteoric rise shows no signs of slowing down, with forecasts indicating continued growth in the coming years.

So, what’s driving this massive surge in demand for meal kits? A combination of factors can be attributed to this success, including convenience, variety, and consumers’ increasing desire for healthier, home-cooked meals.

Additionally, the ongoing COVID-19 pandemic has led to a shift in consumer behaviour, with more people staying at home and seeking meal solutions that fit their busy lifestyles.

Moreover, the food box market has embraced innovation and technology to stay ahead of the curve, adapting to the rapidly changing needs of consumers.

From user-friendly mobile apps to advanced meal customization options, these innovations have played a crucial role in making meal kits an indispensable part of our daily lives.

In the next sections, we’ll explore these factors in more detail, offering you a comprehensive understanding of the forces shaping this dynamic market.

Food Waste Reduction and Its Impact on Meal Kits

In today’s environmentally-conscious society, the issue of food waste has taken centre stage, and the UK food box market has risen to the challenge. According to Wrap research, UK households threw away 6.6 million tonnes of food in 2018, a significant decrease from 8.1 million tonnes in 2007.

This positive trend can be partly attributed to the growing popularity of meal kits, which offer pre-portioned ingredients and reduce the likelihood of waste.

Meal kit companies have tapped into consumers’ desire for sustainability and waste reduction, incorporating eco-friendly practices into their business models.

From using recyclable packaging to sourcing local ingredients, these companies have demonstrated their commitment to minimizing their environmental impact while still providing convenience and quality to their customers.

Furthermore, the precise portioning of ingredients in meal kits not only reduces waste but also helps consumers manage their food budget more effectively. By cutting down on excess food purchases, households can save money while contributing to a more sustainable future.

Innovations in the Food Industry: Online Supermarkets and Q-Commerce

The food industry has witnessed a wave of innovations in recent years, with technology playing a pivotal role in reshaping the way we shop, cook, and consume food. Online supermarkets, app-based takeaway services, and Q-commerce (quick commerce) services have emerged as popular alternatives to traditional brick-and-mortar stores, offering unmatched convenience and speedy delivery.

Online supermarkets have made grocery shopping a seamless experience, with customers enjoying the luxury of ordering groceries from the comfort of their homes. These digital platforms have also paved the way for a more personalised shopping experience, with tailored recommendations and promotional offers based on customers’ preferences and shopping habits.

App-based takeaway services have also experienced a surge in popularity, catering to consumers’ on-demand lifestyle and desire for instant gratification. Q-commerce services take this a step further, promising ultra-fast delivery times, often within an hour or less.

The meal kit industry has also harnessed the power of technology to stay competitive and relevant in this fast-paced environment. With user-friendly websites and mobile apps, customers can effortlessly browse meal options, customise their orders, and schedule deliveries according to their preferences.

As we further explore the UK food box market, we’ll delve into the strategies adopted by meal kit companies to capitalise on these technological innovations, ensuring they stay ahead of the curve and cater to the ever-evolving needs of their customers. Stay tuned as we uncover the role of technology in shaping the future of the food industry.

The Rise of Meal Kit Companies in the UK

As the UK food box market continues to grow at an impressive rate, numerous meal kit companies have emerged to cater to the diverse needs and preferences of consumers. These companies have successfully differentiated themselves by offering a wide range of meal options, targeting specific dietary requirements, and delivering exceptional customer experiences.

From vegan and gluten-free options to gourmet recipes and family-friendly meal plans, meal kit companies have gone above and beyond to cater to every palate. This versatility has made them increasingly popular among consumers, who appreciate the convenience and variety offered by these services.

In addition to their diverse offerings, meal kit companies have leveraged technology and data analytics to better understand their customers and fine-tune their marketing strategies. By analysing search visibility, keyword opportunities, and page speed, these companies have been able to optimise their online presence, reaching a broader audience and driving business growth.

Furthermore, meal kit companies have embraced social media, engaging with customers through targeted content, brand mentions, and influencer partnerships. These strategies have helped them build strong online communities and foster brand loyalty, ensuring their long-term success in the competitive food box market.

Global Meal Kit Delivery Market Overview

To truly appreciate the UK food box market’s remarkable growth, it’s essential to understand the global context in which it operates. The meal kit delivery market has experienced a worldwide surge, with total revenue reaching 15.5 billion USD in 2022. This figure is expected to grow even further, hitting an impressive 25.62 billion USD by 2027.

This global success can be attributed to many of the same factors driving the UK market, including convenience, versatility, and an increased focus on healthy, home-cooked meals. As consumers around the world seek out innovative solutions to their meal planning needs, meal kit companies have risen to the challenge, providing tailored options that cater to a diverse array of preferences and lifestyles.

Moreover, the global meal kit market has been propelled by advancements in supply chain management, logistics, and technology. These improvements have enabled meal kit companies to operate more efficiently, reduce costs, and provide better service to their customers.

Future Outlook and Projections for the UK Food Box Market

As we conclude our in-depth analysis of the UK food box market, it’s time to look ahead and consider the future prospects for this thriving industry. With continued growth anticipated over the next few years, meal kit companies have ample opportunities to innovate, expand, and solidify their positions in the market.

The key to success in this ever-evolving landscape lies in staying ahead of consumer trends and leveraging technology to deliver exceptional customer experiences. As more people turn to meal kit services for convenience and variety, companies must continue to innovate, offering a diverse range of meal options and catering to specific dietary needs.

Sustainability will also play a crucial role in the future of the UK food box market, with environmentally-conscious consumers seeking out brands that align with their values. Meal kit companies that prioritize eco-friendly practices, such as reducing packaging waste and sourcing local ingredients, will be better positioned to attract and retain customers in the long run.

Furthermore, the integration of advanced technologies, such as artificial intelligence and machine learning, will help meal kit companies streamline their operations, improve their marketing strategies, and offer more personalised experiences for their customers.

By keeping a close eye on emerging trends and remaining agile in the face of change, meal kit companies can capitalize on the opportunities presented by the UK food box market’s continued growth. As we wrap up this comprehensive report, we hope you’ve gained valuable insights and a deeper understanding of the factors driving this dynamic and exciting industry.

Fraud Statistics UK

According to recent reports, fraud in the UK has surged to an all-time high, costing businesses and individuals billions of pounds every year.

fraud uk

Also read: Number Of UK Businesses and Entrepreneur Statistics in the UK

From identity theft to financial scams, the types of fraud are as diverse as the culprits who commit them. And with the advent of modern technology, the ways in which fraudsters operate have become more sophisticated, making it even more difficult to detect and prevent fraudulent activities.

Card Fraud UK

Value: £574m

  • In 2020, Remote Purchase (CNP) fraud was valued at £452.6 million, which represents a decrease of 4% from 2019.
  • E-commerce fraud accounted for £376.5 million of CNP fraud in 2020, which represents an increase of 4% from 2019.
  • Counterfeit fraud decreased by 32% from £12.8 million in 2019 to £8.7 million in 2020.
  • Loss & Stolen fraud decreased by 17% from £94.8 million in 2019 to £78.9 million in 2020.
  • Card ID Theft fraud decreased by 21% from £37.7 million in 2019 to £29.7 million in 2020.
  • Card non-receipt fraud decreased by 15% from £5.2 million in 2019 to £4.4 million in 2020.
  • The total value of fraud in the UK was £574.2 million in 2020, which represents a decrease of 7% from 2019.
  • In the UK, fraud abroad was valued at £159.7 million in 2020, which represents a decrease of 6% from 2019.

Card Fraud Volumes

  • In 2020, Remote Purchase (CNP) fraud on UK-issued credit and debit cards had a volume of over 2,400,000, which represents an increase of 12% from 2019.
  • Counterfeit (skimmed/cloned) fraud had a volume of 52,782 in 2020, which represents a decrease of 20% from 2019.
  • Fraud on lost or stolen cards had a volume of 322,000 in 2020, which represents a decrease of 30% from 2019.
  • Card ID theft fraud had a volume of 34,545 in 2020, which represents a decrease of 36% from 2019.
  • Card non-receipt fraud had a volume of 8,435 in 2020, which represents an increase of 7% from 2019.
  • The total volume of card fraud on UK-issued credit and debit cards was 2,835,622 in 2020, which represents an increase of 3% from 2019.

Unauthorised remote UK banking fraud

Value: £197m

Remote Banking Fraud Losses 2013-2020

  • In 2020, internet banking fraud had losses of £159.7 million, which represents an increase of 43% from 2019.
  • Telephone banking fraud had losses of £16.1 million in 2020, which represents a decrease of 32% from 2019.
  • Mobile banking fraud had losses of £21.6 million in 2020, which represents an increase of 41% from 2019.
  • The total remote banking fraud losses in 2020 were £197.3 million, which represents an increase of 31% from 2019.

Volumes 2013-2020

  • In 2020, internet banking fraud had 55,995 cases, which represents an increase of 117% from 2019.
  • Telephone banking fraud had 7,490 cases in 2020, which represents a decrease of 33% from 2019.
  • Mobile banking fraud had 10,155 cases in 2020, which represents an increase of 48% from 2019.
  • The total remote banking fraud cases in 2020 were 73,640, which represents an increase of 68% from 2019.

Romance scams UK

Value: £21m

Romance scams involve fraudsters using fake profiles on social media or dating websites to target victims and establish a long-term relationship.

Once the victim’s trust is gained, the criminal will request multiple payments for supposed issues such as visa problems or health issues.

In 2020, there was a 38% increase in the number of romance scam cases and a 17% increase in value to £21.2 million. The average number of payments per case was around five, and romance scams accounted for 2% of total APP scam cases and 4% of total value.

Only £8.1 million of the losses were returned due to payments being made over an extended period.

Romance scam cases reported 2019 – 2020

Volume:

  • In 2020, the volume of personal fraud cases was 2,947, which represents an increase of 38% from 2019.
  • In 2020, the volume of non-personal fraud cases was 37, which represents an increase of 42% from 2019.
  • The total volume of fraud cases in 2020 was 2,984, which represents an increase of 38% from 2019.
  • The volume of payments in 2020 was 14,745, which represents an increase of 35% from 2019.
  • The volume of fraud payments in 2020 was 127, which represents an increase of 108% from 2019.

Value:

  • In 2020, the value of personal fraud was £20.6m, which represents an increase of 15% from 2019.
  • In 2020, the value of non-personal fraud was £0.5m, which represents an increase of 388% from 2019.
  • The total value of fraud in 2020 was £21.2m, which represents an increase of 17% from 2019.
  • In 2020, the amount reimbursed for personal fraud was £8m, which represents an increase of 244% from 2019.
  • In 2020, the amount reimbursed for non-personal fraud was £0.1m, which represents an increase of 314% from 2019.
  • The total amount reimbursed for fraud in 2020 was £8.1m, which represents an increase of 244% from 2019.

Advance fee scams in the UK

Value £23m

Advance fee scam cases reported

  • The total volume of advance fee scam cases reported in 2020 was 14,128, which represents a 32% increase from 2019.
  • Of the total cases reported in 2020, 359 were classified as non-personal, which represents a 77% increase from 2019.
  • In 2020, the total value of reported advance fee scam cases was £23.0 million, which represents a 34% increase from 2019.
  • In 2020, £8 million was reimbursed to victims of advance fee scam cases, which represents a 252% increase from 2019.
  • The total volume of advance fee scam payments made in 2020 was 24,026, which represents a 40% increase from 2019.
  • Of the total payments made in 2020, 526 were classified as non-personal, which represents a 91% increase from 2019.
  • In 2020, the value of non-personal advance fee scam cases was £1.1 million, which represents a 13% decrease from 2019.
  • In 2020, the value of personal advance fee scam cases was £21.9 million, which represents a 38% increase from 2019.
  • In 2020, £7.7 million was reimbursed to victims of personal advance fee scam cases, which represents a 260% increase from 2019.

Resources:

Number Of Businesses in the UK

Report Highlights:

  • In the UK at the beginning of 2022, there were a total of 5.5 million private sector businesses.
  • The private sector business population has experienced a decline of 1.5% or 82,000 businesses in comparison to the year 2021.

UK Business Statistics

More statistics: Employee Turnover Rate UK, Average Debt, Entrepreneur Statistics and UK Esports Market Size

Number of businesses, Employment, and Turnover

The following data presents the estimated number of businesses, employment, and turnover in the UK private sector at the start of 2022, categorized by the size of the business.

  • All businesses in the UK private sector employed approximately 5.5 million people and generated a turnover of £4.16 trillion.
  • Small and medium-sized enterprises (SMEs) in the UK private sector employed over 5.5 million people and generated a turnover of £2.12 trillion.
  • Small businesses with 0-49 employees in the UK private sector employed over 5.4 million people and generated a turnover of £1.42 trillion.
  • Businesses with no employees in the UK private sector employed over 4 million people and generated a turnover of £278 million.
  • All employers in the UK private sector employed over 1.4 million people and generated a turnover of £3.88 trillion.
  • Employers with 1 to 9 employees in the UK private sector employed over 1.1 million people and generated a turnover of £530 billion.
  • Businesses with 10 to 49 employees in the UK private sector employed over 200,000 people and had a turnover of £609 billion.
  • 50 to 249 employee businesses in the UK private sector employed over 35,000 people and generated a turnover of £708 billion.
  • Employers with 250 or more employees in the UK private sector employed over 7,000 people and generated a turnover of £2.03 trillion.

The contribution of large businesses in the UK to employment and turnover is significant, but SMEs continue to dominate the private sector, accounting for three-fifths of the employment and around half of the turnover; at the beginning of 2022:

  • Total employment in SMEs was 16.4 million, which accounts for 61% of the total employment, and the estimated turnover was £2.1 trillion, representing 51% of the total turnover.
  • Employment in small businesses was 12.9 million (48%) with a turnover of £1.4 trillion (34%).
  • Employment in medium-sized businesses was 3.5 million (13%) with a turnover of £0.7 trillion (17%).
  • Employment in large businesses was 10.6 million (39%) with a turnover of £2.0 trillion (49%).

UK Private Sector

In the UK private sector, there are three main legal forms of businesses: sole proprietorships, ordinary partnerships, and companies, with sole proprietorships being the most common form. At the beginning of 2022:

  • The private sector business population consisted of 3.1 million sole proprietorships, representing 56% of the total, 2.1 million actively trading companies (37%), and 353,000 ordinary partnerships (6%).
  • 1.1 million companies, 220,000 sole proprietorships, and 95,000 ordinary partnerships were employers.
  • 2.9 million sole proprietorships, 932,000 companies, and 257,000 ordinary partnerships did not employ anyone aside from the owner(s).

Just over three-quarters of UK private sector businesses are non-employers, and the majority of these are not registered for either VAT or PAYE; at the start of 2022:

  • The Office for National Statistics recorded 2.7 million private sector businesses as registered for VAT or PAYE, which is 49% of the estimated total population.
  • 2.8 million businesses (51%) traded without being registered for VAT or PAYE and are classified here as ‘unregistered’.
  • 14% of sole proprietorships and 52% of ordinary partnerships were registered for VAT or PAYE.

Business Population Trends

Regarding trends in the business population between 2000 and 2022:

  • The business population increased by 2.0 million (59%).
  • The highest rate of increase was 6.8% between 2013 and 2014, followed by 6.7% between 2003 and 2004.
  • In contrast, the decrease of 1.5% between 2021 and 2022 is only the third decrease in the series, all of which have occurred since 2017. The largest decrease was 6.5% between 2020 and 2021.
  • Between 2021 and 2022, the total business population decreased by 82,000 (1.5%), with 32,000 more (2.3%) employing businesses and 114,000 fewer (2.7%) non-employing businesses.
  • The decrease in non-employing businesses resulted from a decrease of 98,000 (3.3%) unregistered businesses, and a decrease in non-employing registered businesses of 16,000 (1.3%).

Non-employing and employing businesses in the UK (Private Sector)

The number of non-employing and employing businesses in the UK private sector has increased since 2000, with a decrease in non-employing businesses since 2020; overall, the number of SMEs has increased by 2.0 million (59%) since 2000, including 336,000 SME employers (30%).

  • The number of small employing businesses grew by 30%, the number of medium-sized employers grew by 34%, and the number of large businesses grew by 7%.
  • In the last year, the number of companies increased by 16,000 (1%), sole proprietorships decreased by 66,000 (2%), and ordinary partnerships decreased by 32,000 (8%).
  • Looking at the period between 2010 and 2022, the number of sole proprietorships grew by 335,000 (12%) and the number of companies increased by 794,000 (63%), in contrast, the number of ordinary partnerships fell by 103,000 (23%).

Employment Trends

  • Total employment across all private sector businesses increased from 27.0 million at the start of 2021 to 27.1 million at the start of 2022, an increase of 0.3%.
  • The SME share of total employment was 61% in 2022.
  • Total employment in SMEs increased from 16.3 million at the start of 2021 to 16.4 million at the start of 2022, an increase of 0.6%.

UK Business Regions

The distribution of private sector businesses is not even across the UK, with London and the South East of England having considerably more businesses than any other UK country or region of England; at the start of 2022, there were 4.8 million private sector businesses in England, 341,000 in Scotland, 219,000 in Wales, and 128,000 in Northern Ireland.

  • London (1.0 million) and the South East of England (844,000) had the most private sector businesses, accounting for 34% of the UK business population.
  • The North East had the fewest private sector businesses among the English regions (155,000).
  • In the last year, numbers of private sector businesses decreased by 86,000 in England and by 1,000 in Scotland, whilst numbers increased in both Wales (11,000) and Northern Ireland (4,000).
  • Since 2010, the number of businesses has increased in all the UK countries and regions, with the largest increase, in percentage terms, in London (44%), and the smallest percentage increase in Northern Ireland (7%).
  • London, the South West, the South East, and the East of England have the highest business density rates in the UK, based on the size of the resident adult population.
  • London (1,452) had the highest number of businesses per 10,000 adults, and the North East of England had the lowest business density rate (704) of any English region or UK country.

Women and UK Businesses

  • As of February 2022, 39.1% of FTSE100 directorships were held by women, and 85 FTSE100 companies had at least one third women representation on their board.
  • In the same period, 36.8% of FTSE250 directorships and 37.6% of FTSE350 directorships were held by women.
  • The government-backed voluntary target that FTSE100 boards should have a minimum of 25% female representation by 2015 was met, and as of 2022, the voluntary target is for FTSE 350 companies to reach 40% representation of women on boards and leadership teams by the end of 2025.
  • In terms of female entrepreneurship in the UK, in 2021 the male early-stage entrepreneurial activity (TEA) rate was 13.2%, and the female rate was 9.7%, with a female to male entrepreneur ratio of around 3 to 4 (73%).
  • The Alison Rose Review of Female Entrepreneurship in 2018 found that “up to £250 billion of new value could be added to the UK economy if women started and scaled new businesses at the same rate as UK men,” and recommended a number of measures to help female entrepreneurs reach their full potential.

Ethnic Groups in UK Businesses

  • The Parker Review recommended that each FTSE 100 board should have at least one director of colour by 2021 and each FTSE 250 board should have at least one director of colour by 2024.
  • The most recent Ernst & Young report found that 94 FTSE 100 companies had at least one director from a minority ethnic background as of May 2022, compared to 74 in November 2020.
  • 11 FTSE 100 companies had no minority ethnic directors on their boards as of December 2021.
  • 128 FTSE 250 companies had minority ethnic representation on their boards as of December 2021.
  • Overall, the survey found that of the 1,056 board positions on FTSE 100 companies, 155 (15%) were held by minority ethnic directors, with 76 (49%) being women.
  • All FTSE 100 companies responded to the survey, compared to 95 in November 2020.

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Average Employee Turnover Rate in the UK

Employee Turnover Statistics

  • The UK has one of the highest employee turnover rates in Europe, with an average of 16.8% of employees leaving their jobs per  year.
  • The cost of replacing an employee can range from 30% to 200% of their annual salary, depending on their level of skill and experience.
  • The hospitality industry has the highest turnover rate in the UK, with an average of 37.6% of employees leaving their jobs each year.
  • The retail industry also has a high turnover rate, with an average of 33.6% of employees leaving their jobs each year.
  • The healthcare and social care sector has a relatively low turnover rate, with an average of 14.8% of employees leaving their jobs each year.
  • The financial and insurance sector has an even lower turnover rate, with an average of 12.8% of employees leaving their jobs each year.

Average Employee turnover rate

UK employee turnover rates for each year between 2012 and 2021

Year Employee Turnover Rate (%)
2012 16.2%
2013 16.5%
2014 16.8%
2015 17.1%
2016 17.4%
2017 17.7%
2018 18.0%
2019 18.3%
2020 18.6%
2021 18.9%

Causes of Employee Turnover in the UK

  • Lack of job satisfaction is a leading cause of employee turnover, with 37% of employees who leave their jobs citing dissatisfaction as the main reason.
  • Poor management is another common reason for employee turnover, with 29% of employees who leave their jobs citing poor management as a factor.
  • Low pay is also a common reason for employee turnover, with 21% of employees who leave their jobs citing pay as a factor.
  • Lack of opportunities for career advancement is another factor that can contribute to employee turnover, with 19% of employees who leave their jobs citing a lack of opportunities as a reason.
  • A poor work-life balance can also lead to employee turnover, with 17% of employees who leave their jobs citing this as a factor.

Hospitality Turnover Rate and Statistics

  • The staff turnover rate throughout 2022 was around 6%.
  • 43% of businesses in the UK have reported operating with a lower than necessary number of staff, indicating that the country is experiencing similar workforce-related difficulties as other European nations.
  • 90% of hospitality business leaders anticipate experiencing a lack of staff in the near future.
  • In 2022, 69% of businesses in the food industry plan to increase their menu prices as a measure to address the issue of high food costs/inflation.
  • The market size of the hotel industry is at GBP 19.76 billion, still down from 2020 when it was at GBP 23.52 billion.
  • In 2024 there was a 46% increase in hospitality job adverts.
  • in 2021 the industries that faced the greatest challenges in hiring new employees were hospitality, water, and health.

Impact of Employee Turnover on the UK Economy

  • High employee turnover can have a negative impact on a company’s bottom line, as the cost of replacing employees can be significant.
  • The constant cycle of hiring and training new employees can also be disruptive to a company’s operations and productivity.
  • High employee turnover can also have a negative impact on customer service, as it takes time for new employees to get up to speed and provide the same level of service as more experienced employees.
  • The UK economy as a whole is also impacted by employee turnover, as the cost of replacing employees and the disruption to businesses can lead to a decrease in overall productivity and competitiveness.

Staff Turnover Rate by Industry in the UK

  • As mentioned earlier, the hospitality industry has the highest turnover rate in the UK, with 37.6% of employees leaving their jobs each year.
  • The retail industry has a turnover rate of 33.6%, while the education sector has a turnover rate of 22%.
  • The manufacturing and construction industries have slightly lower turnover rates, with 20% and 19% of employees leaving their jobs each year, respectively.
  • The lowest turnover rates can be found in the financial and insurance sector, with 12.8% of employees leaving their jobs each year, and the healthcare and social care sector, with 14.8% of employees leaving their jobs each year.

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