Those early years of a Start-Up are critical
Starting a business is a significant step and the first two years of trading are the most vulnerable time. “50% of all small businesses fail in the first couple of years. It’s a damning statistic but it’s true.“ said Theo Paphitis. However, recent research published by Barclays has shown that start-up survival rates are at their highest since 2012, when Barclay’s began their regular research exercise. The number of business failures has also declined for the first time in three years: 170,359 in the early part of this year, compared with 193,699 in the previous six months.
Growth in Start-ups
“Since 2012, the appetite for creating new businesses has grown exponentially, due to a number of factors – from an improving economy to the rise of entrepreneurs over the age of 50 – the UK’s start-up scene is thriving.” said Dena Brumpton, head of wealth management UK at Barclays.
Start-ups need practical help
This is really encouraging news! I find I am helping a growing number of Start-ups through those early, critical years, with essential planning support, together with commercial advice, hints and tips. Some of these business owners also need finance, which I have helped them access through the Government Start Up Loan Scheme.
If you are thinking of starting a business, or in the early years of your start-up, please contact me on 0777 454 8822, or email me at email@example.com.