UK Small Businesses on the Rise: Can 2024 Be Their Year? Semrush's BizBuzz Event Offers Hope

Small and medium-sized businesses (SMBs) across the United Kingdom are often less celebrated or talked about, compared to larger corporations, but they drive remarkable economic growth, provide local jobs, and bring communities together. In support of SMBs in the UK, Semrush launches the BizBuzz event on November 28th at Covent Garden's Icetank venue, to provide a platform for small business owners to shine, and learn from experts in their field. With appearances by PerfectTED, WILD Deodorant, Surreal and others, the one-day event aims to showcase the successes, challenges, and potential of small businesses in the UK to the wider public.

As BizBuzz kicks off, Semrush revealed interesting insights into the recent popularity surge in support of small businesses.

For starters, there’s been an 18.8% surge in searches for "small businesses near me" over the past year in the UK.

Secondly, there’s a stronger interest in small businesses seeking financial assistance given the increasing cost of goods and services due to inflation. There’s been an 829% upsurge in searches for “UK small business loans” over the past year, while “business grants for small businesses” have increased by 1677.8%.

Online visibility and the public's support for UK small businesses are further evidenced by a notable 22% increase in searches for "small business websites."

Additionally, the ongoing energy crisis in the region is having an impact, as searches for "best energy deals for SMBs" have witnessed a staggering growth of 4300% over the past year. Notably, searches for "small business electricity prices" have also seen a significant uptick, with a 23% increase. The significance of rates relief for small businesses cannot be overstated, as the number of SMBs searching for information on rates relief has surged by 129%.

In a comprehensive analysis of more than 500 SMBs in the UK, conducted using the powerful Semrush Traffic Analytics tool, it was found that a substantial 43.4% of businesses belong to the "Computer Software" category. 13.3% of the analyzed SMBs offer online services, while "accounting and audit" businesses represented 4.7% of the businesses studied. This data suggests a shift towards online and digital-first SMBs, reflecting the evolving landscape of the UK business ecosystem.

These data-backed insights not only shed light on the current landscape but also point the way forward for UK SMBs, showcasing their resilience, adaptability, and the support they receive from the public.

Despite the challenges SMBs face in the UK, there is a significant increase (86%) in the number of people searching for "how to start a small business" online. This surge in entrepreneurial interest suggests a growing number of businesses to kick off operations in early 2024.

Semrush is dedicated to empowering both current and upcoming SMBs. The BizBuzz event is designed to offer small businesses the recognition, support, and tools they need to thrive in the digital age.