Health & Social Care found to be the Highest Growing Industry in the UK

The health and social care sector is the UK's top growing industry, as uncovered by a recent analysis from Forbes Advisor.

Based on their data, while the overall number of businesses added to the Inter-Departmental Business Register (IDBR) saw a 14% decline, the health and social care sector was one of just two industries that emerged as exceptions.

This sector saw a rise of almost 9% in new business registrations in Q2 2023, reaching 3,400, as opposed to 3,125 in the same period the previous year. This makes health and social care not just an anomaly in a largely declining market but also the best-performing industry in terms of new business growth. Real estate was the other sector that saw an increase in business births, the growth was under 1%, still not anywhere near health and social care’s increase.

Kevin Pratt, a reputable business commentator at Forbes Advisor, pointed to a 15% improvement in business survival rates as a testament to the resilience businesses have shown against various economic challenges. And whilst sectors like accommodation and food services faced significant hurdles due to labour shortages, high energy bills, and weak consumer demand, the health and social care industry painted a different picture.

The demand for health and social care services is on a continual rise, driven largely by an ageing population. As more individuals require these services, the industry not only grows but also assumes an even more pivotal role in society.

Looking to the Future

With the demand for health and social care services predicted to soar further, this sector's growth seems not only sustainable but also inevitable. As more individuals rely on these services, businesses within the sector have an opportunity – and responsibility – to offer the best care and services possible.

And with growth comes the need for quality furniture and interiors. A healthcare environment should not only be functional but also comforting, catering to the unique needs of its users.

Recognised as a leading contract furniture supplier for the healthcare industry, here at Barons, we provide contract furniture tailored for various care settings. From dementia-friendly furnishings to our challenging environment range, Barons Furniture prioritises both functionality and safety. We only work with trusted fabric suppliers offering fire retardant, anti-microbial, and easy-clean fabrics ideal for the healthcare industry. We can help furnish your property from top to bottom; from the bedroom to the garden.

Interested? Visit our showroom or book a display van appointment to meet the team, discuss how we can meet your requirements, and see your potential new furniture up close.