The number of small and medium-sized enterprises (SMEs) operating in the hospitality sector across the UK has increased by over 16,000, or 9% over the last year.
Analysis of new government data by cloud accounting software provider, Clear Books, found the number of companies with fewer than 50 employees operating ‘accommodation and food services activities’ has increased to 198,440, up from 182,015 in 2016.
The data also indicates that these same SMEs turn over £41.4bn a year, up from £39.4bn in 2016. In addition, SMEs provide around 1.09 million jobs or 47.3% of employment in the sector.
Clear Books CEO Phil Sayers said: “Be it a local B&B, or independent caterer – small and medium-sized businesses play a huge role in the UK hospitality sector, acting as vital job creators but also contributing a significant amount to overall economic activity.
“These small, often locally-owned firms also add vibrancy to communities, acting as genuine hubs and valuable service providers for residents and visitors alike.”
The total turnover of all businesses operating in accommodation and food services activities reached £98 billion in 2017, up from £92 billion in 2016.