Number of UK startups launched in 2017 drops amid “muted” government support
City A.M. covers the Centre’s latest analysis of Companies House data, showing a drop in business formations for the first time since 2010
While the centre concluded Brexit did not have an impact on business startups, it said the combination of business rate rises and other regulatory burdens with “muted encouragement” for entrepreneurs from the current government were discouraging individuals from starting new businesses.
“With business registrations increasing for nearly a decade it is not surprising to see the record streak come to an end” said Matt Smith, the director of the CFE.
“While the tax clampdown is responsible for most of the drop, there is evidence that formations have fallen more than expected.
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