by johnt
14. April 2011 16:10
New Business Data figures indicate entrepreneurs are banking on us hanging onto our cars longer but still wanting to look good.
The New Business Data Company (NBD) have today released their quarterly figures on the types of new businesses setting up. The figures show some changes over the past four quarters, there may be a recession but entrepreneurs still believe it is worth taking the risk and setting up new businesses.
There has been a significant decline in the proportion of new businesses setting up in the first quarter of 2010, with an increase in businesses relocating or new owners taking over existing businesses. Looking at the major business groups the Food, Retail and Wholesale sector showed a decline in the first quarter of 2011 after 3 quarters of consistent growth.
The trends for individual types of business show entrepreneurs are thinking we will still want to look good in the recession with an increase in the number of hair and beauty salons starting up. Alternative and complementary medicines and therapies also showing an increase.
If the entrepreneurs are right we will be hanging on to our cars longer as the proportion of new businesses offering Garage services increased dramatically in the first quarter of 2011.