Last year there were around 581,000 new companies established, and this year is set to break that record by reaching over 600,000.
The government-backed campaign ‘Startup Britain’ is kicking off its fourth tour across the nation to provide support and inspiration to budding entrepreneurs.
The start-up campaign was launched back in March 2011 with the aim of raising awareness about entrepreneurship. It was a response to the country’s recession to spearhead an ‘enterprise led’ recovery. During a time of public spending cutbacks, the government encouraged entrepreneurs to help rebalance the job market and contribute to the country’s economic growth.
Centre for Entrepreneurs (the think tank that’s behind the Startup Britain Campaign) says that start-up numbers increased from 440,600 in 2011 to 581,173 in 2014 – a record breaking figure.
A Startup Britain participant
Yaw Okyere, a Warwick University graduate, is just one of a number of university graduates to start their own business instead of climbing the corporate ladder. With Ruth Mukete, they launched Coffee Munch, selling energy bars made from oats and dates infused with a shot of espresso. The newly-formed company sources its coffee from Cameroon, using natural ingredients with no added chemicals.
Okyere said: “We started six months ago from our bedrooms, making samples and testing them on friends and family. Now we’re happy with the product we want to scale up.”
He is taking part in the Startup Britain campaign to get advice on how to raise money and take the next step with his business.