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| Scottish company formation rate 'declined during 2009' |
Company formation activity declined in Scotland during the recession, a new study has indicated.
According to research conducted by Strathclyde University, carried out in the Hunter Centre for Entrepreneurship in Strathclyde Business School, the rate of start-up creation fell by 18 per cent during 2009.
This left the private limited company formations rate at 3.6 per cent, some way below the UK average of 5.8 per cent.
The university's Global Entrepreneurship Monitor showed that two-thirds of entrepreneurs found it more difficult to set up a business than in 2009 - potentially highlighting the benefits of international company services.
And just 20 per cent of people thought there were more opportunities for growth in 2009 than in 2008, the study showed.
Dr Jonathan Levie, director of the Hunter Centre of Entrepreneurship, said "direct action" is needed to encourage new business creation.
He added: "In a society where knowledge of business and entrepreneurs is low, as it is in Scotland where 77 per cent of Scots do not have a family business background, intervention through education and training is necessary."
Andrew Cockburn, Oswalds director, agreed with the university's finding for 2009, but added that "since the beginning of the year we have seen an increase in company formations in comparison to this time last year".
"We are hopeful for a successful year, providing the Chancellor's forthcoming budget does not stifle business growth," he stated. |
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