Umbrella company contractors might be interested to learn that despite the continuing economic turmoil at home and abroad this year, experts predict that more than 470,000 new businesses will have been created before the end of 2011.
According to research by Creditsafe, the business intelligence provider, the number of start-ups this year will be 17% up on last year’s figure of 400,570.
Business insolvencies increased marginally in October, with 0.1% of companies declaring themselves insolvent, compared to 0.09% in September. In October 2010, the figure was 0.08%. However, Creditsafe points out that the net number of businesses in the UK is increasing.
Once insolvencies have been taken into account, there were 386,000 new registered limited companies in the UK in the first three quarters of 2011.
London remains the start-up capital with 160,000 new firms launched this year. Birmingham, Brighton, Bristol and Manchester are also popular cities for those looking to start up a new venture.
Creditsafe’s business development director, David Knowles, said 2011 has been a difficult year but the British public are still displaying a strong entrepreneurial spirit. While insolvencies having been rising this year, the number of new start-ups has also been growing over the last two years.
David Cameron continually tells us that small businesses are the driving force to pull the UK out of the economic doldrums. Back in March, he backed the StartUp Britain campaign – designed by entrepreneurs for entrepreneurs. Since then the PM has also launched the GREAT Britain campaign to encourage foreign investors to do business in the UK.
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Image: Tomato by Joost J. Bakker IJmuiden
