Start a Business for less than the Average Weekly Wage
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According to a
recent survey 76% of micro
businesses are started with less than £2000. The government is
encourage people to think about starting their own business as a way of
a way out of the current financial crisis and would have been
encouraged by the
report last week, Growing
your Business’, by Lord
Young the Prime Minister’s Enterprise Adviser which stated that this is
good time’ to start a business.
results from the survey can be seen below:
per cent of respondents were ‘spare room’ start-ups,
running their businesses from a home office, rather than from a
or shared workspace.
than giving up their jobs and putting a strain on
their finances, more than a third of micro-business owners say they
their businesses whilst still working in their permanent job.
per cent used personal savings to start.
per cent asked for financial help from
friends and family.
per cent used their redundancy money.
2.5 per cent of those business owners polled secured a
per cent were lucky enough to receive a grant of some
0.8 per cent had sourced funding from a private
in ten micro-business owners were over 30 when they
started their business,
than a quarter (28 per cent) were over 40 when they
launched their start-up, with 11 per cent over 50.
a quarter (24 per cent) of the micro-businesses
launched in the past year have been internet-based, while technology
cent), design (14 per cent), marketing
and PR (12
per cent) and professional service (11 per cent) businesses also
like this one seem to indicate that there is still the confidence
start-ups to act on their business ideas and fund themselves or seek
funding where possible. Though access to finance may be tough there are
considerations that might make starting a business an ideal time:
affordable staff, abundance of free advice and information online, low
finance if successful, low cost office space etc etc.
About the Author
(UK) was formed in 1999 and since then has grown to become one of the
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Article Published/Sorted/Amended on Scopulus 2013-10-17 12:11:48 in Business Articles