A new report on the state of the UK’s staffing industry has revealed that the number of UK staffing businesses increased by 1710 (8%) between March 2015 and March 2016.
Staffing Industry Analysts (SIA) has released detailed research and findings on staffing businesses in the UK in a new report entitled The Structure of the UK Staffing Market.
The report looks at the number of employment placement agencies and temporary employment agencies across the UK, as well as their location, annual revenue and number of employees for these businesses.
Findings indicate that of the 24,155 total staffing businesses operating in the UK market, 13,320 are employment placement agencies and 10,835 are temporary employment agencies. The report also notes that the total number of enterprises grew 8% between March 2015 and March 2016, up by 1710.
A vast majority of companies (83%) had annual revenues of less than £1m. While only 135 firms exceeded £50m in revenue, just 450 firms (2%) in the UK employed over 250 staff. In terms of location, the Greater London region had the highest percentage of firms, with 28% of businesses, while the South East region comprised the second largest share, with 19% of businesses.
“Growth of 8% between 2015/6 is very healthy, although not as strong as the 15% the year before,” said Adam Pode, Director of Research at Staffing Industry Analysts.
“London dominates the market with 28% of all business, and this figure goes up to 47% if we include the South East. One of the facts that surprised us is there are more staffing business in Westminster than in Wales. Unfortunately, we are expecting a slowdown both in the growth of the number of firms and their turnover in 2017.”
The Structure of the UK Staffing Market report is available in full for SIA’s Corporate and CWS Council Members.