The number of business start-ups in the UK has grown steadily over the last couple of years.
Information released at the end of last year revealed that, since 2000 there has been “sustained growth” in total business population. There has been a 64% increase since the turn of the millennium and since 2016, there has been a 4% rise.
A think-tank from the Centre of Entrepreneurs showed that the number of start-ups in the UK are at their highest level on record, leading some to describe the UK as almost unrivalled as a place of to start a business.
According to the figures, almost 660,000 businesses were established in 2016, which is more than 50,000 higher than the level experienced in 2015.
Added to that, statistical analysis from the Department for Business, Innovation and Skills has revealed that the number of ‘business births’ has enjoyed growth in every year since 2010.
As well as this, the percentage of business births (15%) was at the highest rate since 2001.
What the figures also indicate is that help and guidance for business start-ups are desperately needed.
Although there the rate of business births is high, there are figures that show thousands of companies have ceased trading in those years – though this doesn’t outstrip the number of businesses who begin training.
The other indicator regarding why start-ups require guidance is because many of these are micro businesses, sole proprietors or SMEs.
Of all private sector businesses recorded in 2017, the number of sole proprietors has grown significantly.
Indeed, small businesses accounted for 99.3% of private sector businesses at the start of last year, with 99.9% of these SMEs.
As such, guidance is available from the government and other organisations on establishment, putting together a viable business plan which enables growth, appropriate support mechanisms, how to file tax and other associated documents, and advice on how to trade with organisations inside and outside of the UK.