Amidst the continuing gloom around the loss of more well-known retail names from our High Streets and other dismal announcements of business failures, we would like to share some positive news on enterprise here in North Somerset.
In the last twelve months we helped no less than 116 new businesses start-up, additionally we’ve helped even more to grow – some through our High Growth Start-up workshops which are specifically designed for ambitious start-up businesses and entrepreneurs across the South West looking to achieve a turnover of between £500,000 and £1 million pounds or more in their first three years of trading.
Each one of these businesses brings with it hopes for employment, growth for our local economy and a contribution to the UK’s economic recovery.
So what types of business are starting up against this backdrop of uncertainty? Well, in the last three months alone we’ve supported and advised a car dealership and a dance school, a pest control specialist and a driving school, a manufacturer of furniture to a bed and breakfast accommodation provider and a math’s teaching service to a metal waste and scrap recycling business, so plenty of variety!
What type of entrepreneurial person sets up a business when long established names are going to the wall? Well we’ve certainly seen a number of people investing their redundancy payments into building a business for their future – most are delighted to have the opportunity and the financial back-up to finally help them go for a long-held business dream. Others have spotted a gap in the market and have a product or service they believe will people will want or need, regardless of how tough things are. Others still have decided that they’ve waited long enough to fulfill their desire for self-employment and are happily setting off towards their desired goals.
Ready for more good news? Of our 116 business start-ups during the last year, I am delighted to report that we have a 92 percent 52 week survival rate. Why such a high rate of success? Possibly because our start-ups and growing businesses tapped into the wealth of free and low-cost advice and support that many others choose to ignore. Perhaps because North Somerset is blessed with a host of services right on its doorstep, with local and knowledgeable business advisors and a supportive local council pulling together to support their business success. Perhaps because North Somerset is a hotbed of entrepreneurial talent – we certainly believe so.
If you think we can help your business or your business idea, please get in touch. Because we all want more reasons to celebrate – don’t we?