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Growth in New Businesses

Creditsafe, the business intelligence provider, have released their statistics for 2011, which indicate a growing number of start-up companies.

Whilst the number of insolvencies has increased, Creditsafe have reported an 18% increase in business start-ups; a positive sign of growth and stability.

The company have reported a 70,000 increase in the number of businesses set up in 2011 in comparison to 2010, and whilst the figures are yet to be completely finalised, their predictions indicate features of positive growth.

London is the area with the most new businesses, followed by the South-East, North-West and East Anglia. Birmingham is second to London in terms of city locations, followed by Manchester, Guildford and Bristol.

David Knowles of Creditsafe told Shout 99 ‘2011 has been difficult but the entrepreneurial spirit of the Great British public is alive-and-kicking. While there has been a higher number of business insolvencies this year, the number of new businesses set up over the last two years has also grown steadily. Overall, growth in the UK business population has actually accelerated in 2011’.

If the current trends continue into 2012 then the future looks bright.

By Sean Dudley

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