Report shows Decline in New Start-Up Businesses over Last Four Years
Report shows fewer start-up businesses in the UK over the last four years
A report that has been researched jointly by Aston University and the University of Strathclyde shows that fewer people in the UK have started a new business, or invested in new businesses, over the last four years.
The report forms part of a larger study across 54 countries including the US. 180,000 detailed interviews were carried out with working age adults, and 30,003 of this number alone are based in the UK.
The drop in the number of start-up businesses over the last four years is reportedly similar to that of other countries in the survey. However, positively, the report shows that the number of established entrepreneurs in the UK has remained largely unchanged, unlike the US and most other countries, where it has declined.
Commenting on the results, Professor Mark Hart, Aston Business School researcher and co-director of The Global Entrepreneurship Monitor (GEM) – the research group behind the global study – said:
“The number of entrepreneurs in the UK has held up well in the past four years, particularly in comparison to the US and other G7 countries.”
However, he comments that there are currently “fewer people” thinking about starting their own business, and the number of actual start-up attempts has declined.
“We don’t yet know if this will feed through to lower numbers of new businesses being established,” he adds. “What we may be seeing is a reduction in the number of start-up attempts by individuals who are not the most determined, as the UK entered recession.”
Visit the Aston University website for more details about the study.