Classifications of Small buiness, Very Small business & Micro business!

[KatyMac]

I was shocked
I mean I knew 'Small' was very big - but I assumed 'Very small' was much less than 50 people & 'Micro' significantly less than 9 people/£2mill

So what are "teeny tiny" businesses called?
& "so small you can't see them" businesses?
& one-man bands that don't hit the tax threshold?

I just assumed it was micro. All I know is that when we went from 4.5 staff to 5.5 staff our H&S requirements increased significantly. Not that we weren't following H&S regs before, but we had to have risk assessments and SOPs for everything, signed off, a fire risk assessment etc etc. It made that extra person a much bigger investment!

There's also the VAT threshold, but I don't know what the turnover requirements are for that. And sole traders covers the one man bands.

And of course there's the MTD thing starting this month which effects everyone big and small.

Oh and for 'small business' rates relief that is physical size and goes by sq footage of premises, rather than no of employees or turnover .

It is indeed a minefield!

It's daft

and as for MTD for small buisnesses (not until April next year)

Dear god all the small businesses that will give up as they can't afford to 'but a thing'