Start-up sector ‘robust’ despite downturn
The start-up market is said to remain ‘robust’ despite the downturn, according to a recent report by Barclays. The findings show that entrepreneurs are growing in number, and figures increased to 436,600 in 2008 up from 432,300 in 2007.
Figures show that the total number of businesses in the UK has increased by 1% to just under 2.9 million.
According to coverage by Startups.co.uk, Steve Cooper, local business managing director at Barclays, says:
“There could be a number of reasons for the robust start-up market, including individuals made redundant opting for self-employment. We should also remember that there are always opportunities, even in more challenging times.”
Furthermore, the survey states that female entrepreneurs outperformed the national average in terms of percentage growth. The number of women-only start-ups increased by 9% to more than 90,000 in 2008 compared to 83,000 in 2007. Male-only start-ups showed a slight increase of less than 1%, rising to 300,000.