BusinessCompany NewsWelsh VAT figures point to fall in start-ups

Welsh VAT figures point to fall in start-ups

More and more businesses in Wales are de-registering for VAT, raising concerns that entrepreneurs in the region are under pressure.

Link: Entrepreneurs frustrated by government

According to Department of Trade and Industry figures, there were 6,110 new VAT-registered companies for 2002 in Wales but 6,785 de-registrations, giving a negative balance of 675.

The increase in the rate of de-registrations in Wales was 5.2% – making it the second worse performing region in the UK after London, whose rate of de-registration was 8.2%.

Although growing numbers of small businesses appeared under pressure, commentators stressed that other economic indicators for the region were positive, including employment figures and the Purchasing Managers’ Index.

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