In a week where we have had a new budget and Virtual Enterprise Conference in the same week, I think its about time we reclassified our industry into two classes. Virtual and Others under the SIC.

Yes we should be encouraging people to start virtual businesses whereby from day one they are selling to others around the globe. You should be given help to start making use of the internet and servicing businesses in Afghanistan, Iran and the Sudan without ever burning carbon miles to get there yourself and be in harms way.

All you have to do is pay all your taxes here. You don’t even have to warehouse in the UK, just pay your taxes.

So what would be in my new Virtual Business Classification

 

Creative Industry

The Creative Industries accounted for 2.89% of gross value added (GVA) in the UK in 2009 . Relative to the UK’s total GVA, the Creative Industries GVA has increase by 0.07% (from 2.82% in 2008), but in absolute terms the GVA reduced by 1% from 2008 (£36.6 billion to £36.3 billion) . Music & Visual and Performing Arts account for the largest contribution to the number of  businesses (1.46% of the UK for enterprises and 1.21% of the UK for local units in 2011). Publishing alone bring in £11b.

At the moment this is put into Arts, Entertainment, Recreation and other services. Yes a sector which brings in £36.6 Billion is under other?

 

Retail

Wholesale and retail trade continued to show strong growth in 2011 where UK exports rose by 65% from £8,609 million in 2010 to £14,176 million in 2011 (compared with a 26% increase in 2010). Total UK exports of merchanting, other trade-related and services between affiliated enterprises increased by 30% in 2011 rising from £17,254 million in 2010 to £22,356 million in 2011 (compared with relatively small growth of 11% in 2010). This may indicate a shift in UK exports patterns favouring merchanting, other trade related and services between affiliated enterprises.

 

Professional & Online services

This would be a new sector which bring together professional services, website services, telecommunication, email, social media and others. The virtual services sector is a massive growth sector and we need to give it the space and opportunities to take over the world . The Professional, scientific & technical is currently a category, M. Some healthcare could be put in this category. Create an industry Czar and promote it around the world, we are the virtual services hub of the world.

 

Finance And Insurance

This sector brings in £14B a year to the UK economy. As a sector its a very profitable part of the economy and we should ensure we are the bankers of the world. Money is only a number in a computer and therefore we should consider it a major part of our virtual economy.

 

Education

This is such an important industry for the UK, it now needs to focus on teaching the entire world, just as the BBC is a proved provider of news, UK Universities and Colleges needs to be the trusted providers of physical and virtual learning. We currently have 302,000 students from other countries, this should be 10 times this and another 1,000 times using virtual course. Currently category P.

 

Others would include

Agriculture, forestry & fishing		A
Production		B, C, D and E
Mining, quarrying & utilities		B, D and E
Manufacturing		C
Construction		F
Repair of motor vehicles		G
Motor trades		G
Wholesale		G
Transport & storage (inc postal)		H
Accommodation & food services		I
Property		L
Business administration and support services		N
Public administration & defence		O
Health		Q
Arts, entertainment, recreation and other services		R, S, T and U