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At the start of 2021, there were 5.5 million micro/small businesses registered in the UK, making up 99.2% of the total registered UK businesses. Of these, 5.3 million are micro businesses (solopreneur - up to a maximum of 5 members of staff), accounting for 95% of all businesses. These businesses account for 21% of employment and 14% of UK PLC turnover.
So why is it, that 20% of start up's fail within the first 12 months, and almost 60% fail within the first three years?At the start of 2021, there were 5.5 million micro/small businesses registered in the UK, making up 99.2% of the total registered UK businesses. Of these, 5.3 million are micro businesses (solopreneur - up to a maximum of 5 members of staff), accounting for 95% of all businesses. These businesses account for 21% of employment and 14% of UK PLC turnover.
So why is it, that 20% of start up's fail within the first 12 months, and almost 60% fail within the first three years?
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