Figures released by North Somerset Enterprise Agency (NSEA) this week have revealed a 100 per cent success rate for businesses it helped to launch in March 2014 – with all 13 businesses reaching their first year anniversaries last month. In addition of the 5 businesses who launched in March 2012 with NSEA’s help, all have reached their three year anniversaries.
Looking across the first quarter from January to March, the total survival rate of businesses who started out with NSEA’s support and have reached their year one milestone is an impressive 86 per cent average. In addition, 73 per cent of businesses who launched in 2012 with NSEA’s help, are still trading and have reached their third anniversary.
The survival percentages are impressive as according to a Bis.gov report in 2012, 20 per cent of the 400,000 UK businesses launched that year failed within the first twelve months with 50 per cent estimated to fail by 2015.
Starting out with information, advice and guidance from business experts is consistently shown to enhance the chances of business success.
According to NSEA’s latest figures, technology-orientated new business start-ups came to the fore in January to March 2015, in a quarter which saw 28 new businesses launch in the area, with the creation of 29 new jobs.
Whilst numbers of start-ups are lower for the period in comparison to previous years (39 in 2014 and 51 in 2013) due to a slowing of referrals from Job Centres, business ideas and plans presented by those with whom NSEA have had contact have been strong, with new enterprises ranging from a catering business to several painting and decorating businesses and a retailer of baby clothes to an artist, photographer and cleaning and contract cleaning firms.
A number of new North Somerset businesses in the period have a technology base: a Digital Marketing business, a Videography provider, an Online Store, a Data Storage business and a Virtual Administration company have all launched in this period.
Angela Hicks, Chief Executive of NSEA – which exists to support start-up and small businesses with free or low-cost advice, support, training and information – says she is thrilled with the success of the enterprise agency’s clients over a one and three year period.
“Starting out in business is one of the hardest things anyone will do and every business failure that we see is the breakdown of someone’s business ambitions, so the more we can help new businesses succeed and grow, the better for the business owner and indeed for our local economy as the business grows and flourishes and creates jobs and wealth.
“We know that starting out with some expert input increases the chance of success – however to be able to report 100 per cent success for March across one year and three years is a fantastic result. We congratulate all the business owners concerned on their milestones and success – and welcome the next generation of new businesses who started out with us this quarter.
“Our services are largely free or low-cost and we are here to help every type of business in North Somerset with any aspect of start-up or growth for which they need help,” Angela continues. “We have a locally-based friendly team of advisors who have a passion for helping businesses succeed, so would invite anyone starting out or in their early years who would like to find out what’s available in terms of advice, support and help, to get in touch.”
North Somerset Enterprise Agency, based at The Hive business development centre in the Weston Business Quarter of the J21 Enterprise Area, is a not-for-profit organisation with social objectives. Established 28 years ago, it helps thousands of businesses to start up and grow every year.