News

Record number of new UK business set up this year

There were 581,000 new companies created last year and 2015 is expected to be another record-breaking year, with more than 600,000 expected to launch.

According to Think Tank, new technology has made it easier and cheaper to start a business, as well as a growing amount of support for aspiring entrepreneurs.

Earlier this year, the Enterprise Bill was passed by parliament, which included measures to reduce regulation on small businesses in a bid to boost job creation. It also seeks to cut red tape for British business by at least £10 billion. The Telegraph has reported that StartUp Britain, a government-backed national enterprise kicked off its fourth national enterprise campaign yesterday, which is also aimed at providing inspiration and support to aspiring entrepreneurs.

The StartUp Britain tour will visit 25 locations across England, Wales and Scotland over the next couple of months, starting in the capital and ending in Inverness on August 8. Budding entrepreneurs will get lessons in how to build a sales team, a crash course in common pitfalls and how to export their goods and services outside of Britain.[1]

Matt Smith, director of the Centre for Entrepreneurs, said: “The entrepreneurial spirit within Britain continues to grow.

“By parking the StartUp Britain bus in town squares across the country, we want to give people the confidence and inspiration to turn their business ideas into reality”.[2]
[1] “Britain hits record number of startups as more aspiring entrepreneurs take the plunge”, www.telegraph.co.uk
[2] Matt Smith, as quoted in “Britain’s start-up boom: Record number of new UK businesses set up this year”, www.express.co.uk