start-ups. starting-up

Recession Fails to Deter Start-ups

The number of newly established business owners and those trying to start a business increased between 2002 and 2009, despite the recession, the Global Entrepreneurship Monitor has found. The report from the Hunter Centre for Entrepreneurship at Strathclyde University, which surveyed 170,000 adults globally, found that 5.8% of UK adults were either starting a business or running a firm less than 42 months old in mid-2009. This compared with 5.5% in 2007 and 5.4% in 2002. “It’s surprising that new business has been maintained, but in the recession a lot of people lost their jobs and took the chance to create their own business,” said report author, Jonathan Levie.  “Another factor is that resources are relatively cheap, so there are buildings available at low rental costs ... »