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.
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.’