The 4th quarter of 2012 saw yet another decline in the number of businesses being started up across the West of England, however trend data suggests that business start‐ups are always at the lowest during the 4th quarter. The number of business start ups for this quarter is 2.8 percentage points down on the same quarter for 2011 and 5.3 percentage points down on the previous quarter in 2012. If this trend continues for a sustained period of time it may be necessary to further examine the causes of this decline.

The double dip recession reported in the 1st quarter of 2012 and the contraction of the economy in the 4th quarter could be effecting business confidence and preventing people from starting up new businesses. Business start–ups are an indication of entrepreneurialism and innovation and it is within these business startups that the jobs of the future will be created.

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Article published by West of England Local Economic Partnership
Source: Partially sourced from BankSearch Business Start Up Interactive Database.