New business start-ups on increase, say statistics

Date: 2nd December 2008

The number of new business start-ups registering in the UK has shown a slight rise, according to the latest statistics.

Data from the department for business, enterprise and regulatory reform shows that the stock of VAT-registered enterprises has increased by nearly 58,000, reaching more than two million.

This represents a three per cent growth over the previous year, 2006, and a 26 per cent rise in the number of business start-ups since 1995.

A statement from the department read: "All regions and countries [of the UK] and most industrial sectors saw an increase in the number of VAT registrations compared with 2006, and most regions, countries and industrial sectors saw an increase in the number of de-registrations."

The statistics show that the only two industrial sectors to suffer falls were agriculture and manufacturing, which demonstrated a slight decline.

In related news, business start-ups have until January 31st to file a self-assessment tax return with HM Revenue and Customs (HMRC).