Whitings SME Growth Index

Data Source: Whitings’ SME Growth Index

The Whitings’ SME Growth Index is a barometer to measure and bench-mark how successful our clients are in being able to grow their businesses. It is constructed as follows:

1. Year on year turnover (excluding Covid grants and other exceptional income sources) is continually measured over the review period.
2. Results are assigned to the year in which the year end falls,
3. Data is extracted from the accounts of a random sample of approximately 1,500 anonymized local SME business clients.
4. Sample only includes trading businesses (excludes investment businesses, clubs and charities).
5. Average growth is calculated as the median of the sample.
6. Sample includes businesses in start-up and cessation phases.
7. Sample includes both entrepreneurial and lifestyle businesses.
8. The data breaks down into 14 trade sectors.

Annual Snapshots:

2025  |  +2.7% (Back to normal inflationary growth)

2024  |  Nil% (Stagnation, partly relating to Jul-24 general election)

2023  |  +4.4% (Good steady growth, partly due to businesses passing on high inflation costs caused by Feb-22 Ukraine war)

2022  |  +12.1% (Post Covid ‘revenge spending’ and passing on high inflation costs caused by Feb-22 Ukraine war)

2021  |  -4.5 % (Covid year 2)

2020  |  -1.8% (Covid year 1 and Jan-20 Brexit implementation)

2019  |  +1.3% (Anticipation of Jan-20 Brexit implementation)

2018  |  +1.4% (Anticipation of Jan-20 Brexit implementation)

2017  | +2.6% (Normal steady year)

2016  |  Nil% (Anticipation and aftermath of Jun-16 Brexit vote)

2015  |  +2.9% (Anticipation of Jun-16 Brexit vote)

2014  |  +1.2% (Anticipation of Jun-16 Brexit vote)

2013  |  +1.4% (Aftermath of double dip recession)

2012  |  +4.3% (Normal inflationary growth, despite double  dip recession)

2011  |  +4.0% (Fragile recovery)

2010  |  -1.3% (Post UK credit crunch)

2009  |  -2.0% (Global financial crisis)

2008  |  +3.1% (Normal inflationary growth)

2007  |  +6.0% (End of  15 year period of solid growth)

Client performance bench-marking:     example

Blog entry by: Ian Piper

Disclaimer - All information in this post was correct at time of writing.