There are different reasons for people to start businesses. One thing, however, is for certain – starting a business can be one of the biggest thrill one can experience. Business startup statistics UK suggest that most people start their own businesses because of the sense of purpose and direction that it gives them. Most people start up their business in a sector that they already have an experience in. however, there are many others who have interesting ideas which, they think, can arrest people’s attention and create a generous market.
Business startup statistics UK are a benchmark against which the growth of small business and industry is measured in UK. It is important to remember though, that there are no get – rich – quick schemes that work in setting up a business. In fact, the business startup statistics UK reveal that there are many businesses who fold-in in their first five years of existence. This means that many businesses do not make it through their first five years.
There are many things that could go wrong for a business. Perhaps a business didn’t get the right capital for infrastructure and the setting up costs. Sometimes, the business start up idea may seem great on paper, but does not go far in practice. Some people may not have the right knack to spot the gaps in their business and work on them. Any number of things can go wrong when you are starting something from scratch.
Still, there are many more businesses that not only see the day of light, but also go on to become successful ventures. The world and our physical environment are full of examples of businesses which have made big. There is still an off chance that even if your business idea is great and you have great capabilities as a leader, a downturn in the market may slow down your success. Business startup statistics UK have shown that perseverance in a business, despite a slow beginning, and a show of cunning can intelligence can help even a slow growing business to prosper in leaps and bounds.
If you have people investing in your business, and business startup statistics UK suggest that this is mostly the case, you will be expected to make profits so that your investors can also benefit from your progress. Therefore, before you start, you will have to give a closer look to business startup statistics UK, and will also have to make sure that you are on top of the situation, no matter what.
The Small Business Service Statistics Team conducted a survey in 2007, comparing small businesses such as home business startups against the figures from 2006. These business startup statistics UK have brought to light some interesting trends. The basic questions that were asked of this exercise were whether UK is a growing market and whether the potential of the market has been exploited to the full extent. The answer to the question, that whether the trends will finally drop in 2008 and 2009 – during the time of the expected slowdown, was also sought.
This research is extremely important for someone who is trying to enter into the market. The business startup statistics UK can give more insights into the business scenario and whether the time is right for entering into a new venture. For instance, at the beginning of the recession period in the later part of 2007, there were a large number of de-registrations from the VAT stock of UK. This was an indication that the market was in turmoil and that people were losing enough business to consider closing down – definitely a terrible time for starting a new business venture.
The de-registrations rose in 2008, reaching a peak during the end of 2008, when the recession was also at its peak. Once you read such business startup statistics, the next step is to automatically consider the reason why these companies began to withdraw registrations and make case studies to avoid making similar mistakes. There are also many other outside influences that could affect your business as well as stock figures. With the help of business startup statistics UK, you can gauge these outside influences as well.
Though sometimes it is important to also pay attention to international business statistics, mostly, it is best to consider business startup statistics UK. Since the local conditions are likely to influence you more than anything else, it is better to be abreast of the latest business startup statistics UK.
According to the latest business statistics from 2009, there are about 2,200,000 business in the UK, which have no additional employees apart from the proprietor. This makes up of 61% of the total start up businesses. Of the total new startups, 1,450,000 businesses are not able to reach the £50,000 mark of annual turnover even after 5 years of existence. Another startling one of business startup statistics UK is that about 1,350,000 of newly started business have assets which are less than £10,000.
Apart from these very important business startup statistics UK, you can also find out the number of businesses started in different locations of the United Kingdom. This is an excellent way to find out which places in the UK are more open to new business and which are the places where your business is more likely to be successful. You can also gauge the rate of competition using these business startup statistics UK.
Additionally, business startup statistics UK can also help you determine the legal entity type of businesses and the average age of businesses in particular locality. This is all extremely valuable information, especially when you are planning to open up your own business and are still in the process of formulating a plan. These business startup statistics UK can help you formulate your startup business plan with more conviction and clarity.
Referring to these business startup statistics UK, you can also calculated the average growth rate of business all across the UK, especially the businesses which are similar to yours. This way you can easily predict the growth of your own business and then make investments accordingly.