Small businesses in the UK are the lifeblood of the economy so it’s welcome news that over the course of 2012, nearly half a million new SMEs were set up. Not only is this a fantastic figure in itself, but this also represents a 10% increase on last year’s numbers, perhaps showing that at the grass roots, recovery is starting to show. With 2013 looking to provide the UK’s businesses with more new opportunities for growth and development, hopefully this trend is a peek at things to come.
Research by the campaign group StartUp Britain has showed that during last year, 484,224 new businesses were set up in the UK across all sectors. This is compared to 2011′s figures of 440,600 new businesses showing that the numbers are clearly moving in the right direction.
Emma Jones, founder of StartUp Britain, commented: “These figures are hot off the press. They are unaudited at the moment, but what it’s telling us is that there was a clear increase in start-up rates in 2012. Small and start up businesses are the driving force of the British economy… Times are hard yes, but it never ceases to amaze us when we see resourceful Britons making business ideas come to life in difficult times.”
This is all great news, especially with the prospects for the coming year looking brighter than 2012. However, times are still difficult, with limited funding options and many obstacles to growth – if you’re thinking of starting a new business or expanding your company, then now’s the time to brush up your knowledge and get to know your alternative finance options. Especially for new start ups, invoice finance can be suitable and far more accessible than going to the banks. If you want to be part of the growing number of entrepreneurs in the UK, it pays to know where your best funding options lie.