Insights into the health of Small Business

UK | Reporting period: February 01, 2019 - February 29, 2020 Published: April 8, 2020 Next publish: May 20, 2020

Cash flow

49.5%

of UK small businesses were cash flow positive in February 2020

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of UK small businesses were cash flow positive in February 2020
-3.05p.p.
Month on month
-0.11p.p.
Year on year

Cash flow

Percent of UK small businesses that are cash flow positive

Over the past year, on average 51.8 per cent of UK small businesses are cash flow positive in any given month, with incomings and outgoing highly variable at different times of the year.

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Getting paid

39.6

average number of days for a UK small business invoice to be paid in February 2020 (30-day term)

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average number of days for a UK small business invoice to be paid in February 2020 (30-day term)
-5.22%
Month on month
-1.88%
Year on year

Getting paid

Average number of days for a UK small business invoice to be paid (30-day term)

The average delay for these payments over a year was 39.22 days, with the worst months for late payments typically falling in the first quarter of the year.

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Hiring people

-0.3%

change in the number of UK small business employees from January 2020 to February 2020

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change in the number of UK small business employees from January 2020 to February 2020
-0.79p.p.
Year on year

Hiring people

Percentage change in the number of UK small business employees

June was 2018’s highest employment growth month at 2.10 per cent - coinciding with March being a relatively high-cash flow month - while the worst months for employment growth are October to December.

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Trading overseas

-11.2%

change in the total sterling value of imports and exports for UK small businesses from January 2020 to February 2020

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change in the total sterling value of imports and exports for UK small businesses from January 2020 to February 2020
-6.98p.p.
Year on year

Trading overseas

Percentage movement in the total sterling value of imports vs. exports

Leading up to the Brexit referendum in June 2016, our data revealed decreases in import growth rates, with the year-on-year (YOY) growth rate in April 2016 hitting a high of 30.58%.

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Cloud adoption

48.0%

growth in UK subscribers on Xero in the year through 31 March 2019

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growth in UK subscribers on Xero in the year through 31 March 2019

Cloud adoption

A breakdown of the top 5 UK industries adopting Xero

Professional Scientific and Technical Services, and Construction industries adopted Xero more than any other sector in the year through 31 March 2019.

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UK | Reporting period: February 01, 2019 - February 29, 2020 Published: April 8, 2020 Next publish: May 20, 2020