UK entrepreneurs launch record numbers of new ventures despite Brexit concerns

0
2

UK entrepreneurs launch record numbers of new ventures despite Brexit concerns

Record numbers of entrepreneurs are running their own business despite Brexit concerns.

The number of registered firms in Britain has risen to a high of 2.72m, with almost 50,000 new ventures created during the year to March.

The Office for National Statistics said this marked a 1.8 per cent annual increase – or 48,995 more firms – after a rise of just 630 the year before.

New ventures: The number of registered firms in Britain has risen to a high of 2.72m with almost 50,000 new ventures created during the year to March

New ventures: The number of registered firms in Britain has risen to a high of 2.72m with almost 50,000 new ventures created during the year to March

The increase, which comes with unemployment at a 45-year low and the number in jobs at a record high, is another sign of the resilience of Britain’s wealth creators in the face of political upheaval.

It suggests businessmen and women are shrugging off concerns about Brexit and setting up a new company anyway.

In its report, the ONS said: ‘This growth was despite the heightened uncertainty surrounding the UK’s exit from the European Union.’

The increase has come in the face of an economic slowdown. The growth has been dominated by ‘micro’ firms with 2.43m of the 2.72m companies employing less than ten people.

 

Let’s block ads! (Why?)