Small Business

Trade and Industry written question – answered on 11th February 2004.

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Photo of Stephen O'Brien Stephen O'Brien Shadow Secretary of State for Business, Innovation and Skills, Shadow Secretary of State for Industry

To ask the Secretary of State for Trade and Industry how many small businesses increased their profits above £15,000 in each year since 1997; and what the percentage change was in each year.

Photo of Dawn Primarolo Dawn Primarolo Paymaster General (HM Treasury)

I have been asked to reply.

The following table gives the figures requested:

First year Second year Number of businesses with profits(10) , (11) above £15,000 in second year but below £15,000 in first year Percentage moving above £15, 000 of the total below £15,000 in the first year
1997–98 1998–99 245,000 7.8
1998–99 1999–2000 260,000 8.3
1999–2000 2000–01 266,000 8.5
2000–01 2001–02 284,000 9.0

(10) For Incorporated Businesses, profits chargeable to Corporation Tax.

(11) For Unincorporated Businesses, Taxable Profits.

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No0 people think not

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