Growth of UK’s Small Businesses Turnover Rises by 1.3% in a Year to £577bn

LONDON--()--Analysis of ONS research by digital business lending platform, Esme Loans, shows the UK’s smaller businesses have dropped in population number while increasing their total turnover - reversing a downward trend which started in 2015.

Following a successful first quarter in 2019 with the launch of business loans to sole traders and the announcement of an upcoming technology partnership with Microsoft, CEO of Esme Loans, Richard Kerton, says; “Although this data analysis shows small business turnover growth is at a lower rate, this is across a smaller business population. This has increased the value of existing SME’s, who continue to grow and perform well, in spite of uncertainty.”

As a small business themselves, Esme Loans understand both the various pain points and opportunities which small to medium sized businesses are faced with each day.

Esme say many of the challenges that small businesses face require quick decisions, which is where traditional lending solutions struggle to deliver.

Richard Kerton says; “To sustain the growth across the small business sector, owners of small businesses need quick access to affordable and stress free finance.”

Since their launch 2 years ago, Esme have lent over £46 million to UK businesses, and continue to reinforce their leadership position in the alternative lending market space. They do this by keeping their focus on the customer, through their digital lending solution - offering finance to SME’s in times that just two years ago were unheard of in the business lending sector.

In response to Esme’s success Co-founder and Chief Marketing Officer Veronika Lovett says; “When we launched Esme, myself and co-founders Richard Kerton and Lucy Hasson felt passionately, as an SME ourselves, that fellow SME’s should have straightforward access to getting quick loans in order to drive their businesses forward.”

Editor’s notes:

  • About esme
    esme provides fast and simple financing solutions for SMEs who want a quick decision. Removing complex forms and lengthy processes, esme offers a fully automated experience, providing unsecured loans up to £150k, over one to five years. esme’ paperless application can be completed in less than 10 minutes and their loans have no hidden costs, no arrangement fees and no early repayment fees. Backed by NatWest, esme talks in simple terms whilst offering the flexibility and efficiency that SMEs want.

Office For National Statistics


David Burns


David Burns