Business start-ups lasted longer in 2000
New businesses in the UK are surviving longer, according to the latest 'Barclays Small Business Bulletin' published today.
New businesses in the UK are surviving longer, according to the latest 'Barclays Small Business Bulletin' published today.
The bulletin found 63.6% of all businesses currently trading, had been operating for a period of two years or more, compared to an average for the last 12 years of 58.3%.
Furthermore, in the third quarter of the year, the number of business closures fell by 11% to 89,000, compared with a figure of 104,000 for the same period in 1999.
The upswing in the fortunes of start-ups was attributed to changing economic conditions with below trend GDP growth reversing itself in 2000, and an end to declining stock growth.
Managing director of small business and start-ups at Barclays, Mike Rogers, summed up the improved business climate by saying: ‘The increasing support provided to new businesses through the Small Business Service, business support agencies and banks has combined with a more favourable economic climate to improve business survival rates.’
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