Fall in business start ups in 2005
Tuesday 04 April 2006
Business start ups in England and Wales dropped by 13% during 2005, according to new figures by Barclays bank.
The slowdown in the economy has been cited as a key reason for the largest drop in the number of business start ups in the last decade, with just 388,300 new businesses launching during 2005, compared to 466,500 in 2004.
A sharp drop in the number of people starting a business during the first half of the year was largely responsible for the change in the figures, as the slowing economic growth put people off. However, the second half of the year showed an upturn in business optimism and the number of new starts.
According to Barclays’ research, London and the South West continue to lead the way in the prevalence of start up businesses, with the North East showing the least number of start ups during the year.
[back to news] [return to top]
