2013 has been an encouraging year for British businesses, with improved economic conditions and a rising consumer confidence allowing large and small companies alike to post steady results throughout the past 12 months.
With unemployment and underemployment still causing issues for jobseekers, many have honed their entrepreneurial skills and taken the plunge in establishing their own firms, giving rise to a tide of SMEs seeking success in a number of highly competitive markets.
According to the latest data released by StartUp Britain’s Daily Tracker, this trend has seen the number of new start-ups registered since January surpass the half million mark for the first time in the survey’s three year history.
A grand total of 502, 410 businesses started up between the 1st of January and the week ending the 13th December, creating employment opportunities and growth prospects in both regional and metropolitan areas across the UK.
Furthermore, trends recorded by the Daily Tracker indicate that this wave of entrepreneurial enthusiasm seems set to gather momentum as 2013 draws to a close. It predicts that, by the time Big Ben tolls midnight on New Year’s Eve, 523,410 new businesses in total will have registered with Companies House.
StartUp Britain co-founder Emma Jones believes that a number of factors, such as improving economic conditions and government initiatives, have helped to establish a strong base from which entrepreneurs can launch stable companies.
She says; “We’ve been looking at these figures carefully for three years since the campaign began and it’s clear the UK’s start-up community is fit and healthy – and shows no sign of abating.”
2013 has certainly been the best year in terms of small business start-ups the UK has seen in recent times. The estimated total of 523,410 compares extremely well with the 484,224 registered in 2012 and resoundingly leaves behind 2011’s total of just 440,600.
Information held by Companies House shows that 95 per cent of all companies operational in the UK fall into the category of small or micro businesses, making them key players when it comes to economic growth. They also employ more than 7 million UK workers, and as studies have shown many plan to expand in the next 12 months this total is only set to rise in 2014.
In order to support this vital sector, the government recently put into action a scheme, entitled Small Business: GREAT Ambition, which helps start-ups cut costs in the early stages of establishment. Businesses participating in the scheme are eligible for broadband vouchers to help with digital progression, profitable deals on energy bills and an updated prompt payment promise.
Additionally, the government implemented further reforms on the small business bidding process for public contracts, giving start-ups unprecedented access to schemes operated by local authorities.
Hopefully, with these support systems in place, 2014 will prove to be every bit as profitable as 2013 for Britain’s growing number of entrepreneurs. And add to the growing demand in the commercial property market.
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