New statistics have shown that 98,000 new businesses were set up in England and Wales during  the first quarter of 2008. Barclays Bank found that, although the number is down on record figures seen in 2006 and early 2007, these numbers are the highest in the past three quarters.

 

The number of start-ups and closures was also roughly the same for this quarter – with 99,900 businesses shutting-up shop - compared with previous quarters in which there were significantly greater numbers of closures (Q4 2007: start-ups 86,400, closures 111,900).

 

The most popular industries for start-ups were business and financial services (27,500 start-ups), construction (15,100) and retail (10,700).

 

John Davis, marketing director for local business at Barclays, observes that small business entrepreneurs are finding opportunities in the marketplace: “They are entering in reduced numbers, reflecting an uncertainty over short-term economic prospects, but clearly there’s a feeling that there is never a bad time to start a good business.

 

“We do anticipate further modest reductions in both start-ups and closures during the remainder of the year, set against the high numbers in recent years.”

 

Accompanying the latest figures for starts and closures are estimates on the contribution of non-UK nationals to small businesses. These indicate that ten per cent of mainstream businesses and 15 per cent of start-ups in 2007 involved an owner from outside the UK.

 

“These figures show the great contribution being made to the UK economy by non-UK nationals,” adds Davis. “There is a lot of skilled labour going into these start-ups – for instance, in the health, education and social work sectors, where over one in six start-ups have involvement from non-UK nationals.”

Bookmark Us
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Google
  • Reddit
  • StumbleUpon
  • TwitThis

Our Random Articles

More Links