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Distance Learning Trade News
New start-ups increase during downturn
The number of new companies taking their first steps into the world of business remained high in 2008 despite the economic downturn, figures show.
There was a one per cent increase in the total number of start-ups that were established in 2008 compared to the previous year, according to Barclays data.
However, it appears that the number of plumbers and other businesses setting up last year tailed off in the final six months of 2008.
In total 4,300 more businesses were established last year than in 2007 - with the most marked increase occurring among female start ups, which increased by nine per cent.
Steve Cooper, local business managing director at the bank, explained that "there are always opportunities, even in more challenging times".
He said: "There could be a number of reasons for the robust start-up market, including individuals made redundant opting for self-employment.
"Perhaps with women showing more interest, we will in the future see equal number of businesses started up by both men and women."
Recent research by uSwitch.com found that three-quarters of small and medium-sized businesses are confident that they will survive the recession.
