Increase in business start ups in 2008

The number of new business start ups remained at high levels in 2008, rising from 432,300 in 2007 to 436,600, although activity weakened in the second half.

These are the findings of research from Barclays, which also reveals that the total number of businesses increased by 1 per cent to just under 2.9 million firms.

Steve Cooper, local business managing director at Barclays, said: "These figures may seem surprising given the current economic climate.  There could be a number of reasons for the robust start-up market, including individuals made redundant opting for self-employment.  We should also remember that there are always opportunities, even in more challenging times."

In terms of percentage growth, women outperformed in comparison to the national average and overtook men.  Female-only starts ups increased by 9 per cent to more than 90,000 in 2008 compared to 83,000 in 2007.  Male-only start-ups showed a slight increase of less than 1 per cent, to 300,000.

"It appears women more than men are bucking the downturn by starting a business," said Cooper.   "We know from our Let's Talk Starting in business seminars that almost half of people attending are women, which is a notably high percentage considering men still make up the majority of all start ups.  Perhaps with women showing more interest, we will in the future see equal number of businesses started up by both men and women."

Barclays is helping people who want to set up a business by running more than 500 free events throughout the UK focusing on setting-up, surviving and thriving in this climate.

For further information, visit www.barclays.co.uk/seminars