Intuit QuickBooks Small Business Index, September 2024

Small business employment: down by 1,700 jobs

Employment at UK small businesses with one to nine employees decreased by 1,700 jobs in August compared to July — now employing 4,282,900 people. As the chart below shows, employment is down by 7,600 jobs compared to August 2023 (an annual decrease of 0.18%).

Meanwhile, job vacancies (as shown in the “job vacancies” tab in the chart above) at small businesses in the UK increased by 600 open positions in August. Currently, there are 143,600 vacancies at small businesses in the UK.

Monthly employment growth rate: down by 0.04%

Compared to July’s small business employment total of 4,284,600 jobs, the monthly decrease in August was 0.04%. However, more small businesses posted open positions — job vacancies increased by 0.38%.

Employment by sector: down in all but four sectors

In August, small business employment decreased in nine of the 13 sectors covered by the Index. Only two sectors saw employment growth compared to July: Professional services (SIC M), which increased by 0.03% and 100 jobs, and finance and insurance (SIC K), which increased by 0.02% and 100 jobs. The education sector (SIC P) once again had the fastest monthly decrease, contracting by 0.13%, with 100 fewer jobs.

However, job vacancies increased in seven7 of the 13 sectors. Administrative and support services (SIC N) had the fastest growth, increasing by 4.16% and added 100 open positions in August. In the table below, use the green buttons to see the number of jobs or open positions by sector.

Employment by nation and region: most regions saw declines in employment while vacancies rise

In August, small business employment decreased in all four UK nations—falling fastest in Scotland, with a monthly decline of 0.22%. Within England, the East Midlands and West Midlands were the only regions to see employment growth, with a monthly increase of 0.01% and and 0.04%, respectively, adding a combined 100 jobs at small businesses. 

While small business employment decreased in August, job vacancies increased in all four UK nations — growing the fastest in Northern Ireland, with a monthly growth rate of 1.83%. Within England, job vacancies increased the fastest in North East England, with a monthly growth rate of 1.63% and 100 added open positions. 

Use the green buttons on the map below to see the number of jobs or open positions at small businesses by nation and region.

More information

Get all the details from the interactive Small Business Index dashboard.

Media inquiries

Media contact details for QuickBooks in the UK can be found here on the QuickBooks UK website.

USA Index

The Intuit QuickBooks Small Business Index is also published monthly in the US. Get the latest small business employment insights for the US here.

Canada Index

The Intuit QuickBooks Small Business Index is also published monthly in Canada. Get the latest small business employment insights for Canada here.

Disclaimer

This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for obtaining professional advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by region, state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Intuit does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Intuit does not warrant that the material contained herein will continue to be accurate nor that it is completely free of errors when published. Readers should verify statements before relying on them.

We may occasionally provide third-party links as a convenience and for informational purposes only. Intuit does not endorse or approve the views or opinions of any corporation or organisation or individual herein. Intuit accepts no responsibility for the accuracy, or legality, of third-party content.