Only China beats UK for rise in start-ups
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Only China has seen stronger growth in the number of new businesses over the past five years, according to analysis of start-up numbers in 22 countries.
Accountancy group UHY Hacker Young said that since the depths of the global recession in 2010, the rate at which new businesses were established in the UK was the second highest out of the countries analysed.
Britain saw a 51% increase in new businesses from 385,741 in 2010 to 581,173 in 2014. This compares to an 11% increase in the US, 7% in Japan, 40% in Germany and 39% in France.
The study claimed that efforts by the UK Government to reduce taxes and reduce red tape helped boost start-up numbers, with the country now ranking as the number one nation in the G7 and sixth globally to launch and operate a business according to recent World Bank data.
An entrepreneur in the UK can now start a company in the UK in less than five days, compared to the global average of 20.
The report said strong growth in alternative finance provide...
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