Record breaking statistics show that start-ups are the way forward » SMEInsider

Record breaking statistics show that start-ups are the way forward

Start-ups have been growing in record numbers during the first quarter of the year, according to a new survey.

Credit research company Creditsafe analysed data produced by Companies House and found that 31,294 more companies were created between January and March of this year. That is an increase of more than 50 per cent on last year’s figures.

‘‘These statistics demonstrate that Britain’s start-up revolution is happening across all sectors, not just the stereotypical digital sector. The challenge for the next government is to see whether we can create the conditions that allow these start-ups to scale up to a much larger size,’’ stated Jimmy McLoughlin, deputy director of policy at the Institute of Directors.

Creditsafe took into account seven major sectors in the UK’s economy and found that some sectors were growing much quicker than others during the first quarter. The retail, construction and financial and business sectors accounted for the majority of new businesses, although every sector grew in terms of new businesses in the last three months.

‘‘We’re seeing a return of the UK’s entrepreneurial spirit following the dip in confidence after the recession. Our research shows that last year was a great year for start-ups across industries and with the first quarter of this year completed, 2015 is already looking like a bumper year,’’ said Rachel Mainwaring, operations director at Creditsafe.

2015 could well be the year that breaks the start-up record that was set in 2011. Four years ago 108,000 new companies were created within 12 months.