Despite the economic recession there have been over 500,000 new businesses started between 2008 and 2012, according to the ONS.
In 2012 there were 4.8m businesses in the UK and 95% of these were categorised as small businesses, with typically less than 9 employees.
Additionally, there has been s a 20% growth to 1.75m in over 50’s becoming self employed between 2008 and 2012, according to the Princes Initiative for Mature Enterprise, and in the over 65’s this growth is over 55%.
As we all live longer, and savings and annuities provide poorer returns, the elderly are turning to self employment to boost their incomes.
However, 20% of start-up businesses fail in the first year and a 50% fail within 3 years according to Inside Startups.
Running a small business is challenging and requires many skills, so it is good to know that the business support group PARTNER? are offering ongoing FREE support to businesses