Milsted Langdon has commented on a recent study that shows more of Britain’s start-ups are surviving their first year of business than their European peers.
The research conducted by Rosseau Associates highlights that of the 234,000 UK businesses launched in 2011, 93 per cent of start-ups survived their first year of business. This compares to an average survival rate of 83 per cent across Europe.
Britain’s start-up scene has enjoyed considerably more robust health than Europe’s other major economies of France (79 per cent) and Germany (78 per cent), and has experienced the strongest economic growth in Europe as a whole.
Rob Chedzoy, Tax Partner at Milsted Langdon said: “This is very encouraging news for Britain’s SMEs and shows that we really are leading the way. Despite the tough economic conditions of recent years, the recession appears to have created innovation and entrepreneurs, so Britain’s start-ups are clearly flourishing. Add to that the recent Enterprise Bill and perhaps we will see an even higher survival rate in the coming years.
“Business Secretary Sajid Javid said last month that small businesses are ‘Britain’s engine room’ and at Milsted Langdon, we’re proud to be able to assist SMEs and offer a range of services for business owners.”
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