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Entrepreneurs are Creating Limited Companies Faster than Ever, According to New Research

Entrepreneurs are often in the news for one reason or another, but it would seem there is a good reason for this according to the latest research. There are now more limited companies in the UK than there were in 2005 – and the jump in the total number of limited companies since that time has been a huge 41%. The number of entrepreneurs during the same time period has more than doubled.

I think this is encouraging as it shows more and more people are willing to go out and create their own businesses instead of working for other people. No doubt some of this growth can be attributed to the recession, with people being made redundant and being virtually forced to strike out on their own. But it is still encouraging, particularly as the insolvency rate of these new companies is also exceptionally healthy.

As an accountant I can testify that I have seen many new clients come to me requesting assistance with the financial affairs of a new business they have set up. It is encouraging to see so many people forging ahead on their own initiative, as they are making opportunities for themselves that may not have been there previously.

Women are also forging ahead in the field of entrepreneurship, with an increase of 72% over the same period of time. I am pleased to see that some people are creating their own opportunities in life, especially as relatively few of them seem to be failing.

If you are about to start a new business and you are looking for a good qualified accountancy firm to handle your tax affairs and accounting for you, contact us here at St Matthew now.







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