Experts at James Todd & Co Highlight the Importance of SMEs to the UK Economy

Independent Chartered Accountants, James Todd & Co, explains how financial advice can help SMEs plan for growth

Chichester, England, United Kingdom, October 29, 2026 -- James Todd & Co, an independent firm of Chartered Accountants, Registered Auditors and Business Advisers supporting established and growing businesses with accountancy expertise and financial guidance across Chichester, Fareham, West Sussex, Hampshire, London and the wider South of England, has highlighted the importance of helping small and medium-sized entities (SMEs) grow, as they contribute to local economies while also navigating financial pressures.

SMEs have been found to account for 99.9% of the UK business population and 60% of private-sector employment, according to 2025 government estimates reported by the Federation of Small Businesses (FSB), with private businesses increasing by 191,000 between 2024 and 2025.

Why SMEs Are Essential to the UK Economy

Michelle Buzzard, FCA, Partner at James Todd & Co explains that ‘It’s common for corporations and multinational giants to have greater visibility, but in reality, smaller businesses make significant contributions, securing jobs, providing services and creating career opportunities.

The FSB’s report puts this in context and reflects the importance of supporting these businesses. This is especially relevant when they are dealing with immediate financial pressures, ensuring companies make forward-looking decisions about investments, growth and their workforces, backed by reliable financial expertise.’

The FSB’s summary of the government's Business Population Estimates for 2025 shows that:

• The UK's 5.7 million SMEs account for around half of private-sector turnover
• An estimated £2.8 trillion is generated by small and medium-sized businesses
• Small businesses alone, or those with fewer than 50 employees, account for 99.2% of the business population
• They employ an estimated 13.1 million people and generate around £1.9 trillion in turnover

These figures demonstrate the importance of smaller firms beyond their individual commercial successes, with SMEs in sectors such as retail, technology, construction and professional services contributing to employment, supply chains and economic activity across a wide range of industries.

How Accountancy Support Can Help Businesses Grow

Access to timely, accurate financial information can help business owners understand more than how their revenue is changing, or how much they might hold in reserves. Regular reporting can provide insight into metrics like profitability, operating costs, expansion opportunities and potential issues that need addressing.

Regular bookkeeping, management reporting, budgeting and forecasting can help owners identify emerging issues and make better-informed decisions, such as recognising rising costs, reviewing pricing, planning for recruitment or assessing whether the business can afford to invest in new equipment.

Michelle clarifies that, ‘For start-ups and growing businesses, having suitable financial processes in place earlier on can help create a stronger foundation for future growth. As transaction volumes and operational demands increase, maintaining clear records and reviewing performance regularly can become increasingly important.

And, for ambitious businesses that might currently be SMEs, having the right support in place can mean that being able to evaluate their potential to grow, expand into new areas or invest in their capabilities from a financial viewpoint can give them the ability to reach their objectives and goals faster, with the stability they need to succeed.’

James Todd & Co supports businesses with a range of accountancy and advisory services, alongside resources such as its Business Growth Tips hub, helping owners access the financial information and practical guidance they require. Its bookkeeping support can help businesses maintain accurate records, monitor key figures and gain a clearer understanding of their financial position.

Why Businesses Require Accountancy Support at All Stages

While SMEs make up almost the entire UK business population, their needs can vary substantially. A newly established business may need help understanding its financial obligations, for instance, while a more established company may be more focused on reviewing profitability, considering expansion or preparing for a change in ownership.

Having an adviser who understands the individual business and its growth goals can help ensure that the relevant financial information is both available and put to practical use, rather than being viewed only as a year-end requirement.

James Todd & Co works with businesses at different stages of development, combining accountancy expertise with a relationship-led approach to helping clients make informed decisions and build stronger businesses. Its Goals to Growth service is specifically designed to support businesses looking to work towards their growth ambitions.

About the company: James Todd & Co is an independent firm of Chartered Accountants, Registered Auditors and Business Advisers with over 30 years’ experience supporting established and growing businesses across Chichester, Fareham, West Sussex, Hampshire, London and the wider South of England. The firm’s services include bookkeeping, management accounting, audit, tax and business advisory, alongside business growth support, with mentoring and coaching. The team helps clients stay compliant, understand their numbers and make confident business decisions.

Contact Info:
Name: Oliver Read
Email: Send Email
Organization: James Todd & Co
Website: http://www.jamestoddandco.co.uk

Release ID: 89207640

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