Pimlico Plumbers founder Charlie Mullins cited the Centre’s 2016 company formation statistics in his latest Real Business column:
We’re a nation known for startups rather than entrepreneurs’ ability of scaling up. Earlier this month, the Financial Times highlighted how our “UK startup revolution shows no sign of ending“. According to think-tank The Centre for Entrepreneurs, 660,000 companies were established last year, up from 608,000 in 2015.
A rising number of startups is music to my entrepreneurial ears, and in addition to this, over the last 15 years, funding initiatives like the Enterprise Investment Scheme and the Seed Enterprise Investment Scheme have provided almost £15bn to 30,000 businesses.
Again, that’s great, but I have to ask why, when we’re so good at creating a startup, do we struggle when it comes to scaling up?
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