ENTREPRENEURS NEED ENCOURAGEMENT & SUPPORT - 10/8/05

ANDY HOLMES, LOCAL BUSINESS MANAGER AT BARCLAYS WITHAM LOOKS AT THE LATEST FIGURES IN THE START UP MARKET.

I have been studying Barclays latest survey on business start ups and closures which reveals that after achieving record highs last year, small business start ups in England and Wales fell in the first quarter of 2005 from 129,500 in Q1 2004 to 116,300 Q1 2005.

Regionally, the picture looks much the same with the small business start ups in the East of England falling in the first quarter of 2005 from 12,800 Q1 2004 to 11,500 in Q1 2005. In our own county of Essex, business starts also fell 3,440 in Q1 2004 to 3,060 Q1 2005.

This looks to set to continue throughout the year, as consumer spending on the High Street, and uncertainty surrounding the housing market, are set to dampen the start up market for the remainder of the year.

Across the UK, the South West saw the greatest proportion of solely female start ups accounting for 22% of new businesses in the region compared to the national average of 19%. They were closely followed by East of England (20%). However, in the North West only 17% of start ups were solely by women.

To encourage women to buck this trend, handbag.com and Barclays Business Plan Awards are calling for women to turn their business idea into reality. Entries can be submitted by visiting www.handbag.com/yourbusiness.

For people interested in setting up their own business or just looking for more support, Barclays runs a series of free seminars. Call 0800 515462 or through the website www.business.barclays.co.uk/bb/seminars .

Andy Holmes is a local business Manager based at Barclays Witham branch he can be contacted on 0845 605 2345.