Tom Keighley

Member Article

Surrey tops successful start-up charts

Surrey has been revealed as the top performing county for downturn-defying start-ups.

New research from Barclays show that around one in seven businesses that started up in the area in the last three years are turning over more than £100,000, while the national average is one in ten.

The popularity of what have been called “recession baby” businesses is also high in Berkshire Buckinghamshire, Cambridge, East Derbyshire and East Riding of Yorkshire.

Steve Cooper, managing director of Barclays Business, said: “Many people secretly hope to run their own business and escape from nine to five employment.

“These figures show that dream is realistic, and starting your own business can offer a credible, financially alternative to working for another employer.

“What makes this so extraordinary is that these businesses are ‘recession babies,’ born, grown and succeeding in the current markets.

“Clearly, there are a lot of opportunities out there for start-ups which our entrepreneurs are aggressively going after.

“Even if your ambition isn’t to reach the financial stratosphere, there are many, many businesses providing their owners with a good income below £100,000 turnover.

“Figures like these are part of the reason why Barclays is supporting record numbers of people taking the plunge and starting up a business.”

The research highlights the achievements of one in 20 UK businesses, started up against the backdrop of economic downturn, that are now turning over £200,000.

Further to this, around one in 65 businesses started in the same period are reaching a half million in turnover.

Mr Cooper added: “The record numbers of start-up businesses is partly the ‘Dragon’s Den’ effect, seeing inspirational people on television who are following their business dreams.

“We’re also seeing a new generation of young entrepreneurs who have learned about business at their school, which is exactly as it should be.

“Others are entrepreneurs through necessity, as their situation means they can’t get salaried employment.

“The cost of starting a business today can be extraordinarily low. Many businesses exist just with an electronic shop window, rather than a high street presence.

“They work and trade online, and their customers could just as easily be in Sydney as Sheffield.”

This was posted in Bdaily's Members' News section by Tom Keighley .

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