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The Growth of the Enterprise Culture

Sarah Bean - Saturday 10.06.17, 14:15pm

2016 has seen a growing number of people starting new businesses, according to research by Creditsafe. Their figures suggest that 470,000 new companies will have been registered by the end of the year, an 18% increase on 2015 figures.  Even though insolvencies are predicted to rise by 4% over the same period, there will still have been a net gain of 455,000 new limited companies.

These figures do not include sole traders, who represent a large proportion of business start ups each year but who are difficult to quantify.

London (160,000) and the South East (60,715) have seen the greatest number of new businesses but Yorkshire (46,100) and the Humber (28,800) have also seen a significant increase.

“[These figures suggest] that those made redundant in the public sector are starting new ventures in the private sector,” said Creditsafe business development director David Knowles. Additionally, enterprising graduates and school leavers may have decided to go it alone, in the face of an extremely challenging job market.

The Department of Business, Innovation and Skills has recently introduced a new portal called ‘My New Business’, which offers practical tools, videos and advice for those thinking of, or are in the early stages, of starting a new business.


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Tags: Business Link · Start-ups

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