HL Deb 19 June 1981 vol 421 c846WA
Baroness Seear

asked Her Majesty's Government:

Whether they will update the turnover limits used to define a small firm in Cmnd. 7503 (page 43) to take account of current prices; and

Whether they will update the statistical table on small firms printed in Department of Industry evidence to the Select Committee on Unemployment (H.L. 1979–80, 144-x, page 7) to the most recent date conveniently available.

The Minister of State, Department of Employment (The Earl of Gowrie)

It is our intention to explore the possibilities of updating the table when the results from the 1981 Annual Census of Employment are available. The table was intended to give an approximate measure of the overall size of the small firms sector and, in view of the statistical uncertainties involved, updating at five-yearly intervals would seem to be appropriate.

The up-dated turnover limits (as at April 1981) are:

  • Retailing—turnover £270,000 p.a. or less.
  • Wholesale Trades—turnover £1,080,000 p.a. or less.
  • Motor Trades—turnover £540,000 p.a. or less.
  • Miscellaneous services—turnover £270,000 p.a. or less.