The UK government’s clampdown on “disguised employment” by public sector workers is largely to blame for the drop in the number of new startups created in 2017, compared to the previous year.
That’s according to the latest research released by the Centre for Entrepreneurs, which found that 589,008 new businesses launched in 2017 – representing a 10.5% decline when compared to the figure (657,790) for 2016.
Additionally, it’s believed that the cumulative effect of business rate rises and other regulatory burdens, combined with muted encouragement for entrepreneurs from the current government, could be deterring individuals from turning their ideas into businesses.
Brexit, however, is not deemed to have had a significant impact on creation of small businesses in the UK. According to the findings, there was no slow-down seen in the final six months of 2016, hence why the UK’s impending departure from the EU is not likely to have had any impact last year. ...