{"id":2232,"date":"2015-11-05T17:42:07","date_gmt":"2015-11-05T17:42:07","guid":{"rendered":"http:\/\/my-brains.co.uk\/jackross\/?p=2232"},"modified":"2015-11-05T17:42:07","modified_gmt":"2015-11-05T17:42:07","slug":"private-sector-businesses-hit-record-number","status":"publish","type":"post","link":"https:\/\/my-brains.co.uk\/jackross\/private-sector-businesses-hit-record-number\/","title":{"rendered":"Private sector businesses hit record number"},"content":{"rendered":"<p><strong>The number of private sector businesses has reached a new record of 5.4 million, the Department for Business, Innovation and Skills has announced.\u00a0 <\/strong>There are now 900,000 more businesses compared to 2010, while the number of businesses that employ people has also risen by 35,000 from 2014.<\/p>\n<p>Small businesses make up 99.3% of all businesses in operation and have a combined turnover of over \u00a31 trillion. As well as medium-sized enterprises and 3.3 million sole traders, there are 7,000 large businesses that collectively employ 10 million individuals and contribute \u00a32 trillion to the UK.<\/p>\n<p>John Allan, national chairman of the Federation of Small Businesses, said: \u201cThe entrepreneurial spark is alive and well in the UK. The key is to continue to encourage people to take the plunge and set up their own business by providing business support that will help them grow and meet their aspirations.\u201d<\/p>\n<h2>Forming a limited company<\/h2>\n<p>The following steps must be taken to become a limited company:<\/p>\n<ul>\n<li>register (or incorporate) your business online at Companies House<\/li>\n<li>if you are forming a totally new company, a memorandum of association, articles of association and form IN01 must also be submitted<\/li>\n<li>at least 1 company director must be appointed &#8211; someone who is over 16 years old and not currently bankrupt<\/li>\n<li>a company secretary can also be appointed although this is no longer mandatory<\/li>\n<li>accounts and annual returns must be filed with Companies House and tax returns with HMRC.<\/li>\n<\/ul>\n<p><em>Contact us about business structures.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The number of private sector businesses has reached a new record of 5.4 million, the Department for Business, Innovation and Skills has announced.\u00a0 There are now 900,000 more businesses compared to 2010, while the number of businesses that employ people has also risen by 35,000 from 2014. Small businesses make up 99.3% of all businesses&hellip;&nbsp;<a href=\"https:\/\/my-brains.co.uk\/jackross\/private-sector-businesses-hit-record-number\/\" class=\"\" rel=\"bookmark\">Read More &raquo;<span class=\"screen-reader-text\">Private sector businesses hit record number<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","neve_meta_reading_time":""},"categories":[20,3],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Private sector businesses hit record number - Manchester Chartered Accountants<\/title>\n<meta name=\"description\" content=\"The number of private sector businesses has reached a new record of 5.4 million, the Department for Business, Innovation and Skills has announced.\u00a0 There\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/my-brains.co.uk\/jackross\/private-sector-businesses-hit-record-number\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Private sector businesses hit record number - 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