What size of business do you run?

[KM-Tiger]

I'm curious to get a measure of what size of business people here run. I think there is a tendency to very small businesses, but I'm not sure.

One possible measure is turnover. I know it's crude, but it does give some indication.

I have absolutely no wish to pry, just trying to get an idea of where everyone is coming from.

My thanks to anyone who does satisfy my curiosity!

 

[Jayne]

I've had a bakery/cafe/shop for 12 years, classed as a small business. I have an ad site and an art site, which are both new, so ask again in a few years :lol:

Jayne

 

[bwglaw]

A business turning over less than £50k/year is considered to be a micro-business,

Over £50k, but less than £250k is considered to be a small business

£250k to £1m is considered to be a medium-size business..

£1m+ is simply a large business

This is based on my opinion and from what I have been told.

 

[Jayne]

I was right then, I'm small fry :lol:

Jayne

 

[SillyJokes]

A business turning over less than £50k/year is considered to be a micro-business,

Over £50k, but less than £250k is considered to be a small business

£250k to £1m is considered to be a medium-size business..

£1m+ is simply a large business

This is based on my opinion and from what I have been told.

I think this is a bit on the generous side. The inland revenue put you down for a small business if you have up to 50 employees.

Anyhoo Kent Man. welcome. And don't forget little businesses grow.

 

[marc williams]

I would rather turn over £100K and profit £10K
Than Turn over 3 million and loss £1k

Turn over means very little to me

 

[bwglaw]

SillyJokes, yes quite right, but as we are 'measuring' in turnover it is what I have come up with. Even 50 employees is rather generous for the 'small' employer. To quantify a small employer one has to look at the largest employer and how many there are to justify the 'small employer' ratio.

There as it seems is no accurate way of measuring the size of a business. Number of staff is rather inaccurate because some businesses have a high staff turnover and generate a small financial turnover, and vice versa.

 

[Steve Roberts]

I would rather turn over £100K and profit £10K
Than Turn over 3 million and loss £1k

Turn over means very little to me

I don't agree. If I were given the option of buying either of the above mentioned companies I'd opt for the larger (loss making) one. Reason being, if you can find cost savings of, say, 10% in both companies then the larger copany is making a 300K profit, while the smaller one is making a £20k profit.

Also, the larger company is likely to have a greater net asset position.

As I recall, the four things which company house use to decide what level of information needs to be publically available are:

Turnover
Number of employees
Profit
Net assets

If a company is in excess of 3 out of 4 of the above for two consectutive years then it's deemed to be a large company. I can't remember the exact numbers, though!

 

[fastfences]

Placed my vote - in the bottom end of the market!

Interesting stats so far!!
Cheers, Nigel

 

[Jayne]

We have done a poll like this before, someone was trying to find out who all the big boys were, their words not mine.

I'm just being nosey, to why you are being nosey :lol:

Jayne

 

[easyasit]

there are plans to venture into other areas this year, so i expect the cashfow to greatly increase by then

Al