More UK start-ups survive first year of business than European counterparts
A recent study shows more of Britain’ start-ups are surviving their first year of business than their European peers.
The research conducted by Rosseau Associates highlights that of the 234,000 UK businesses launched in 2011, 93 per cent of start-ups survived their first year of business. This compares to an average survival rate of 83 per cent across Europe.
Britain’s start-up scene has enjoyed considerably more robust health than Europe’s other major economies of France (79 per cent) and Germany (78 per cent), and has experienced the strongest economic growth in Europe as a whole.
This is very encouraging news for Britain’s SMEs and shows that we really are leading the way. Despite the tough economic conditions of recent years, the recession appears to have created innovation and entrepreneurs, so Britain’s start-ups are clearly flourishing. Add to that the recent Enterprise Bill and perhaps we will see an even higher survival rate in the coming years.
If you are thinking of starting up a business or would like to talk about any other related issues, please contact Alan Taylor or your usual contact at the office.
Author: Alan Taylor FCCA
A former pupil at Ripley St Thomas C of E High School in Lancaster, Alan joined Scott & Wilkinson directly from school in 1994 and qualified as an Accountant in 2001. Alan is the Partner with responsibility for the day-to-day...
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