Size and growth of the UK non-financial business economy as measured by the Annual Business Survey (ABS), and the value of e-commerce and the adoption and use of information and communication technologies (ICTs) by UK businesses.
In mid-January 2022, 80% of all businesses were fully trading, compared with 77% in early January 2022; businesses within the transport and storage industry and the accommodation and food service activities industry reported the lowest percentage of businesses fully trading, at 64%.
Approximately a third (32%) of all businesses currently trading reported that their turnover had decreased in the last two weeks compared with normal expectations for this time of year, with 52% of these businesses reporting the coronavirus (COVID-19) pandemic as the main reason for change.
In mid-January 2022, 13% of businesses reported a shortage of workers; the accommodation and food service activities industry reported the highest percentage (28%), with 60% of these businesses reporting that employees are now working increased hours because of the shortages.
In 2019, approximate gross value added at basic prices (aGVA) of the UK non-financial business economy was estimated to be £1,313.9 billion; an increase of £42.8 billion (3.4%) compared with 2018.
The non-financial services sector, which accounted for over half (56.7%) of total aGVA in 2019, increased by £25 billion (3.5%) to £744.4 billion; transport and storage saw the highest increase in aGVA growth at £7.2 billion (8.6%) increasing from £84.4 billion to £91.6 billion.
Total turnover and purchases of the UK non-financial business economy were estimated to be £4,101.5 billion and £2,761.4 billion respectively; an increase of £70.5 billion (1.7%) and £25.8 billion (0.9%) compared with 2018.
The indicators and analysis presented in this article are based on selected responses over time from the new voluntary fortnightly business survey, which captures businesses responses on how their turnover, workforce, prices, trade and business resilience have been affected in the two week reference period. This data relates to the period 23 March 2020 to 17 May 2020 (Wave 2 to Wave 5).
Annual data on business turnover, approximate gross value added (aGVA), purchases and employment costs, from the Annual Business Survey. Two-digit Standard Industrial Classification 2007 group by region or country.
Annual estimates of the number of foreign-owned businesses, turnover and approximate gross value added (aGVA) in the UK non-financial business economy for 2019, and revised estimates for 2018, from the Annual Business Survey (ABS).