The Times covers the Centre’s fourth annual analysis of new company formations:
According to the Centre for Entrepreneurs, the decline was due, in part, to a clampdown on businesses being classified as contractor accounting firms, which allow individuals to reduce their tax bills. However, the number of new businesses formed still dropped 7.3% without such distortions.
“The day-to-day championing of entrepreneurs has become more muted,” said Matt Smith, the centre’s director.
Mike Cherry of the Federation of Small Businesses said: “Business rates, rent and utility costs all hit you before you’ve had the chance to make your first £1 in turnover, let alone profit — and this burden is increasing.”
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