9 September 2019
Start-ups slump as entrepreneurs brace for Brexit
● Number of new firms being started falls by 13% across the UK - with much sharper declines in many parts of England, Scotland and Northern Ireland
● Firms achieving sustained rapid growth and productivity gains remain a small minority
● ‘Warning signs’ highlight dangers for job creation from ongoing uncertainty around Brexit
The number of new start-ups in the UK fell sharply last year and established firms scaled back their growth ambitions due to Brexit uncertainty, according to new data looking at the health of the grassroots economy.
The findings have emerged from the Enterprise Research Centre’s UK Local Growth Dashboard report, an annual publication that looks at a range of metrics charting the growth of small to medium-sized enterprises (SMEs), which account for 99% of all firms in the UK.