Nearly half of all small business owners have seriously considered either selling their business or closing it down completely in the past five years.

Nearly half of all small business owners have seriously considered either selling their business or closing it down completely in the past five years.

When asked about the next half decade, a fifth (21 per cent) say they are very likely to exit their business, either by selling their share or closing the business entirely, and 26 per cent reveal they are quite likely to exit, according to a survey by loan company Borro.

Two fifths (40 per cent) would be unlikely to start up their business today in the same form as they did at the outset. For those small business owners who used a loan to help finance the start up of their business, this figure rises to nearly half (47 per cent).

Borro CEO Paul Aitken says, ‘The last five years have seen the nation’s small business owners really struggle to keep their heads above water.  It’s worrying to think that the small business landscape in the UK could shrink over the next five years if they continue to operate in uncertainty.’

The UK’s slump into a double-dip recession has also affected how small business owners perceive starting a new company. Nearly half (46 per cent) of respondents say it would be  harder to start a business this year than it would have been in 2011 – with a quarter (24 per cent) reporting it is ‘much harder’ to do so. Only one in six (16 per cent) feel it is easier to start a business during this year compared to last.

See also: Helping hand for stressed business owners