In their latest review of Small Business Finance Markets the British Business Bank highlights the importance and value of BankSearch’s Business Start-up Data:
BankSearch is the best source of information on new business start-ups as it is based on the opening of new business bank accounts. It is therefore not subject to delays between businesses starting up and then registering for VAT and PAYE, and the fact that some businesses never grow large enough to register for VAT or take on employees.
British Business Bank, 2015
BankSearch collects data on start-ups from the main high street banks and provides comprehensive and timely data on company formations across the country.
The monthly data includes information about start-ups geographic location, industrial classification and the firm’s legal status.
By collecting start-up data directly from banks and combining it with data produced by Companies House BankSearch’s database provides the most complete information on business start-ups in the UK.