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NFEA: Recession will not stop start-ups

Jul 15 2008

NFEA: Recession will not stop start-ups

Despite a downturn in the markets, there could still be a continued growth in small businesses, according to George Derbyshire, chief executive of the National Federation of Enterprise Agencies (NFEA).

A report from Barclays found that there were around 100,000 businesses established in the first quarter of the year, Derbyshire says, adding that this is 'a very strong performance'.

He claims that reports from NFEA members around the country are showing a strong start-up sector but remarks that this is difficult to judge because the summer season is unreliable.

'It seems logical that people in secure jobs might defer going it alone, but on the other hand if we see an upturn in unemployment, which seems likely, we may see another flow of new starts,' he concludes.

A survey released yesterday by Bowmark found that many companies are concerned about their future growth and the percentage of businesses reporting a growth in profit of ten per cent or more over the last 12 months fell from 65 per cent in January to 57 per cent at the end of June.

Comments [1]

Comment by Angela Hargan

Wednesday 16th July 2008

Serviced and Virtual Offices At Centrum Offices we have found that the current uncertain economic climate seems to be bringing this service to an even wider audience – since the start of the year we have seen record level of take up for both Serviced Offices and Virtual Services. With the number of enquiries in the first six months of 2008 almost 3 times as much as the same period last year.

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