Business Support is needed as UK Incorporations surge.
Figures from Companies House have shown that 182,742 companies were incorporated between January and March 2019. This is the highest quarterly level of incorporations for eight years. Given the backdrop of Brexit uncertainty and the reported gloom in retail and manufacturing, this is an impressive figure!
The majority of the detail in the report comes from the ‘effective register’ which excludes businesses in the process of dissolution or liquidation. This number was at 3,926,374 at the end of March.
If you drill down into the numbers though, there was a 1% increase in the number of companies in England and Wales, but a 1.6% increase in Northern Ireland.
It’s not all good news…
Sadly, the number of businesses closing in the period was also up. Comparing the total dissolutions in quarter 1 2019 with the same period of 2018 shows that 142,390 companies were dissolved in 2019, as increase of 12,702.
What do these statistics tell us?
This report shows there is a huge entrepreneurial spirit that’s alive and well in the UK. What those entrepreneurs need is the right support and guidance to give them the best possible chance of success.
There are many different options available:
Enterprise Nation offers a weekly online programme of new business support.
The FSB has a Business Creation package to help make starting a business simpler.
The Department for Business, Energy & Industrial Strategy has a list of schemes to provide Finance and Support for your business.
The ‘Business Is Great’ website has a range of business support and advice.
Local Enterprise Partnerships can be a good source of support and incorporate the 38 Growth hubs across England.
If you’re a new business, or just feel that you need some support, whether around your finances or another aspect, please do get in touch. We have a wide network of contacts and are very happy to make introductions if that would be helpful.