2014 Sees Record Number of Start-ups & Entrepreneurs
According to research conducted by the Think Tank Centre for Entrepreneurs, 2014 saw a growth in UK start-ups compared to 2013 figures. 2014 saw a record 581,173 businesses file at Companies House compared to 2013 figures of 526,447.
The biggest increase across the UK was seen in Greater London with 184,671 registered, however other cities across the country saw peaks in these figures with Birmingham showing 18,337 and Manchester showing 13,054 start-ups.
The FSB has mentioned that there has never been such strong opportunity for SMEs (Small and medium sized enterprises) and entrepreneurs.
In his New Year message, John Allan, chairman of the Federation of Small Businesses (FSB) comments on the increase in support for SMEs from Westminster: “It feels like small business owners are finally receiving the sort of recognition and support from across the political spectrum that has long been the mission of the FSB since our founding 40 years ago.” He does however mention that there are still issues that face the country’s SMEs and something that they will continually deal with during 2015.
One of these issues is late payments and supply chain bullying which was highlighted at the end of 2014.
With the UK offering the third lowest start-up costs in the world it is positive to see that entrepreneurs are taking advantage of this and setting out on their own to run and own a business. It is also positive news for the employment rate, as since 2010 private-sector jobs have helped give over 2million people employment.
It was announced in the Autumn Statement that the UK’s economic recovery has improved quicker than expected and that we have the fastest growing economy in the G7. With all of this momentum behind them, entrepreneurs are taking advantage and setting out on their own to achieve their business goals.