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Success of business start ups

The key statistic often quoted in the media by politicians and commentators in relation to start ups is the number of new businesses being created. Recently we saw much excitement at the widely quoted fact that, at 40% of the working population,  the UK now has a higher proportion of self employed workers than any other EU country.

However, this only looks at the number of new businesses. Information released today suggests that only half of start up businesses survive beyond five years. 

The reasons for this will be varied. Start ups, by their very nature, tend to be speculative and some will be established simply to test an idea. Such ventures will tend to have a high failure rate. However, other start ups may fail through lack of funding, a lack of management expertise, poor advice or, in some extreme cases, a flawed idea or business model.

Whatever the reason, it is the job of professional advisers, such as ourselves, to help and advise new businesses as much as possible, even it is sometimes advice that a new business owner does not want to hear. We enjoy helping to create new ventures and take pride in making them successful.