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Boom time for UK beauty businesses

Posted at August 12, 2014 | Categories : News

The number of beauty businesses in the UK has risen by over a fifth in the last four years, according to new data from Barclays Business.

The bank also says it has seen a significant increase in the number of small beauty businesses since 2010, alongside a 24% rise in the combined turnover of these businesses during the same time period.

Businesses in the beauty industry contribute £4 billion to the UK economy and the majority of beauty business SMEs are sole traders (62%), with 6% of owners under the age of 25 – over twice the rate of under-25s owning SMEs more generally (2.3%).

While London is the region with the biggest percentage of beauty businesses (a fifth of Barclays’ SME customers) the East of England follows with 13.8% and the South East is close behind with 13.7%.