Sheffield-based Hart Shaw Business Recovery Services has commented on this study that shows more of Britain’s start-ups are surviving their first year of business compared to their European counterparts.
The research, conducted by Rosseau Associates, highlights that of the 234,000 businesses launched in the UK 2011, 93 per cent survived their first year of business, whereas in Europe the survival rate was 83%.
Britain’s start-up scene has enjoyed considerably more robust health than Europe’s other major economies of France (79 per cent) and Germany (78 per cent), and has experienced the strongest economic growth in Europe as a whole. Christopher Brown, a partner at Hart Shaw Business Recovery said: “This is very encouraging news for Britain’s SMEs and shows that we really are leading the way.
“Despite the tough economic conditions of recent years, the recession appears to have created innovation and entrepreneurs, so Britain’s start-ups are clearly flourishing. Add to that the recent Enterprise Bill and perhaps we will see an even higher survival rate in the coming years.
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