What the evidence means
The Longitudinal Small Business Survey covers UK businesses with 1 to 249 employees. The result is self-reported and compares turnover with the preceding 12 months.
Self-reported turnover direction among SME employers.
G&G verified business evidence
UK SME employers reporting turnover growth in 2024
In 2024, 36% of UK SME employers reported higher turnover than 12 months earlier.
36
percent
Original source
Department for Business and Trade
Longitudinal Small Business Survey 2024: SME employers
The turnover section reports that 36% of SME employers had increased turnover.
View original evidence
Department for Business and Trade. Longitudinal Small Business Survey 2024: SME employers. 25th of September, 2025. https://www.gov.uk/government/statistics/small-business-survey-2024-businesses-with-employees/longitudinal-small-business-survey-2024-sme-employers-businesses-with-1-to-249-employees
Why this matters to UK SMEs
This is a useful benchmark for recent trading momentum among UK employer SMEs. It lets an owner compare the direction of their turnover with peers, but it does not reveal the scale, profitability or cash impact of the change.
Key breakdowns
The 36% reporting higher turnover in 2024 compares with 40% in 2023 and 46% in 2022. Another 30% reported a decrease, up from 27% in 2023 and 23% in 2022. Growth was reported by 35% of micro, 41% of small and 49% of medium-sized employers; the corresponding fall rates were 31%, 26% and 21%. Growth was most common in arts and entertainment (43%), information and communications (42%) and transport and storage (41%). By nation, Northern Ireland recorded 39%, England 36%, Scotland 34% and Wales 32%.
How to interpret this evidence
Reported turnover growth became less common for a second year, while reported declines became more common. Medium-sized employers were more likely than micro businesses to report growth. The measure describes the direction of sales, not whether growth exceeded inflation or improved profit.
Limitations
This is a weighted telephone-survey response from businesses with 1 to 249 employees that had traded for at least a year. It excludes non-employers, is self-reported and compares turnover with the previous 12 months. It does not measure the percentage change, real-terms growth, margins or cash flow. Subgroup results carry sampling uncertainty and percentages are rounded.
Practical considerations
G&G perspective: separate price-led growth from volume-led growth and check whether higher turnover improved gross margin and cash conversion. Compare performance with the appropriate size and sector group. If turnover is falling, examine customer concentration, pipeline quality, pricing and working-capital effects before choosing a response.