Business start-ups 'holding steady'

The number of new businesses starting up remained stable last year, Barclays has said.

In 2008 436,600 firms started up, compared with 432,300 in 2007, although the number did slow down in the second half of the year, when the economy began contracting.

Commenting on the statistics, local business managing director for the bank Steve Cooper said: "These figures may seem surprising given the current economic climate."

Noting that some of the start-ups may have been made by people who had suffered redundancy, he added: "We should also remember that there are always opportunities, even in more challenging times."

Those keen on starting a business may wish to pick up a pack on how to go about it, which will contain legal information and thus avoid the need to consult a lawyer.

Chief executive of the National Federation of Enterprise Agencies George Derbyshire recently said the government should do more to help new businesses start up, particularly where people who are unemployed are trying to do so.

Written by Rachel Crook

Published on: March 26, 2009

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