50,000 New Startup Businesses Established in difficult 2010
The number of startup businesses in the UK increased by 48,000 in the 12 months to January 2010, bringing the total number of private sector firms to 4.5 million, government statistics have highlighted.
The figures in Business Population Estimates for the UK and Regions, released by the Department for Business, Innovation and Skills (BIS) showed there was a 1.1% increase in private sector businesses from 2009 to 2010, despite difficult economic conditions.
Business and enterprise minister, Mark Prisk, said that it was “encouraging” to see this growth during the recession and that he hoped it would continue, commenting:
“This was a difficult period, and these figures show the resilience of British business.”
Prisk added that the Government would attempt to help existing companies and encourage more people to start up on their own.
“I’m determined that the Government will do everything it can to create the right environment for these businesses to now expand and grow.”
The Chartered Management Institute’s head of communications, Mike Petrook, said that it was not surprising to find that more people were choosing to start up.
“People’s priorities are changing and we’ve found that there has been a move from just survival to leadership. People want to go out there and succeed on their own.”
The BIS survey also found that almost two-thirds of private sector businesses were sole traders. In addition, the report found that small and medium-sized businesses, with fewer than 250 employees, accounted for almost half of all private-sector turnover.