ISSUES
: Business and Trade
Chapter 1: Business today
5
rising to 84 per cent in the Midlands
and 80 per cent in London and the
South East.
Swigciski continues: “Our research
shows that the number of high
growth businesses is expected
to recover, yet the proportion will
remain below pre-crisis levels. This
suggests that the Government’s
business growth package is focused
on the right kinds of support, but
this needs to be sustained and built
upon further.
“Despite the Government’s recent
efforts, small businesses are still
crying out for more support and
better access to information. For
instance, clear direction on where
to turn to for advice and extending
the current apprenticeship scheme
could both have a significant
impact.”
Footnotes
1.
Zero-employee
firms
are
defined in this study as
companies with no additional
employees, other than the
founder of the business. They
are also described throughout
the research as ‘micropreneurs’.
2.
‘High
growth’
businesses
are defined as achieving an
average 20 per cent annual
growth in employment for three
consecutive years. The high
growth ‘rate’ is the number of
those firms as a proportion of
all firms with 10+ employees in
the base year. Projections for
2011–14 and 2014–17 are based
on Cebr’s economic growth
forecasts.
3.
The firm size classes used in
this research are Micro (0–9
employees),Small(10–49),Medium
(50–249) and Large (250+).
23 September 2014
Ö
Ö
The above information is
reprinted with kind permission
from the RSA Insurance Group
plc. Please visit
com for further information.
© RSA 2016
Only China beats UK for
rise in start-ups
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.
A
ccountancy 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 providers
such as peer-to-peer lending and
crowdfunding has also helped
encourage newBritish entrepreneurs.
Colin Jones, partner at UHY
Hacker Young, said: “The UK is
now a leading nation for start-ups
and providing them with the right
environment to grow.
“Although the economy has
bounced back from the recession,
the coming years will bring their
own challenges, and governments
around the world need to find ways
to turn these new start-ups into
prosperous businesses.
“The [UK]Government hassimplified
regulations and established a
Start Up Loans programme, but it
needs to maintain this strong level
of assistance. There is always
room for improvement in cutting
red tape and making life easier for
entrepreneurs and investors.”
23 November 2015
Ö
Ö
The above information is
reprinted with kind permission
from Enterprise Nation. Please
visit
for further information.
© Enterprise Nation 2016
